AMSCO 6.5 Vocabulary

Economic Imperialism

Economic Imperialism

A situation in which foreign business interests have great economic power or influence. This developed as businesses took advantage of natural resources beyond their borders.

East India Company

An English company formed in 1600  to engage in the lucrative spice trade. The company soon ran into opposition from the Dutch. By the mid- 1600s, cotton and silk textiles from India had replaced spices as the East India Company's major import, and by the 1700s the company dominated the world textile trade.

Culture System

System introduced by the Dutch government that forced farmers to choose between growing cash crops for export or performing corvée labor (compulsory unpaid work) Under this system, villagers either had to set aside one-fifth of their rice fields for export crops or work in a government field for 66 days if they had no land.

Opium War

The Chinese, as Lin Zexu expressed in the letter to Queen Victoria, objected to the export of opium to their country. This conflict resulted in the first Opium War. The Chinese government seized the British opium warehouse in the port of Canton, but it was a British victory.

Treaty of Nanking

Required China to open up four additional ports to foreigners, cede the island of Hong Kong to Britain, and pay damages. It also forced the Chinese to allow free trade, which the British took to include trade in opium.

Spheres of Influence

Japan, France, Germany, Russia, and the United States sought the same trading privileges that Britain attained after winning the Opium Wars. These nations began forcing China to give them exclusive trading rights in certain areas.

Gold Coast

A British colony in West Africa, known for its gold resources and significant role in the transatlantic slave trade. After missionaries introduced cocoa, it became the major cash crop here. This region soon became the largest cocoa producer in the world.

Banana Republics

A term to describe small Central American countries under the economic power of foreign-based corporations. They were politically unstable states with an economy dependent upon the exportation of a limited-resource product, such as bananas or minerals.

Ivory Coast

A West African country known for its cocoa production, it was formerly a French colony. Also traded Ivory.