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37 Terms

1
Grand Canal
A vast waterway system in China, started in the 5th century BCE, that facilitated inland communication and economic prosperity.
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2
Porcelain
High-fired white ceramics first produced around 600 CE in China, leading to increased trade and wealth.
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3
Luxury Goods
Non-essential items that are highly desired, significant in trade from 1200 CE to 1450 CE, including silk and spices.
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4
Caravanserai
Roadside inns along trade routes like the Silk Road from 1200-1450, allowing travelers to rest and facilitating cultural exchange.
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5
Silk Road
A network of trade routes connecting Asia to Europe and Africa from 1200-1450 that enabled the exchange of goods and ideas.
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6
Trans-Saharan Trade Route
A network of trade routes across the Sahara Desert in Africa from 1200-1450, connecting Mediterranean and sub-Saharan regions.
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7
Trans-Atlantic Trade Route
A triangular trade route between Europe, Africa, and the Americas from 1450-1750, significantly impacting global economies.
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8
The Middle Passage
The trans-Atlantic slave trade route transporting enslaved Africans to the Americas from the 1500s to the 1800s.
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9
Banking Houses
Places in the Middle East/Silk Road where merchants deposited wealth and received bills of credit during 1200-1450.
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10
Paper Money
The first government-issued paper notes developed in China around 800 CE to facilitate economic exchange.
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11
Camel Saddle
A saddle, developed by Arabs, that allowed camels to carry heavy goods efficiently on trade routes between 1200-1450.
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12
Zamindars
Tax collectors or landlords in India under the Mughal Empire from 1450-1750.
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13
Ottoman Tax Farming
A taxation system in the Ottoman Empire from 1450-1750, where taxation rights were auctioned to collectors.
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14
Dutch East India Company
Established in 1602, the world's first multinational corporation that brought exotic goods to Europe.
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15
Incan Mit’a System
Mandatory labor system in the Inca Empire for public works starting in 1200, intensified by Spanish colonization.
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16
Chattel Slavery
A system prevalent in the Americas from the 1600s-1800s where humans were considered legal property.
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17
Indentured Servitude
A labor system where individuals worked under contract without salary to repay a loan from the 1600s-1800s.
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18
Encomienda System
A Spanish labor system granting conquerors the right to demand tribute and labor from conquered peoples in the 1500s-1600s.
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19
Hacienda System
Land estate system in Spanish colonies (1500s-1800s) where landlords exerted control over indebted workers.
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20
Joint-Stock Companies
Large investor-backed companies in Europe during the 1600s-1700s that sponsored exploration and colonization.
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21
Mercantilism
An economic theory (1500s-1700s) where nations enriched themselves by limiting imports and encouraging exports.
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22
Free-Market Capitalism
Economic system (1500s-1700s) regulated by supply and demand rather than government control.
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23
Socialism
Political and economic theory emerging in the 1800s advocating community ownership of production and resources.
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24
Communism
Political theory by Karl Marx from the late 1800s advocating a classless society with public ownership.
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25
Feudalism
A social and economic system in Europe from 400s-1200s where landowners provided protection for labor.
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26
Opium Wars
Conflicts between Britain and China (1839-1842) over trade disputes involving opium.
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27
The New Deal
Programs instituted by FDR in 1933 to restore economic prosperity during the Great Depression in the USA.
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28
Fascist Corporatism
Economic system in Italy and Germany in the 1920s-1930s emphasizing state control over private industries.
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29
Five Year Plan
Soviet governmental programs to develop the economy from 1920s to 1940s, initiated by Joseph Stalin.
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30
The Great Depression
The worst economic downturn in history starting in 1929, causing widespread unemployment and bank failures.
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31
Ronald Reagan
40th U.S. president (1981-1989) known for conservatism and foreign policies that contributed to the end of the Cold War.
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32
Margaret Thatcher
Prime Minister of Great Britain from 1979-1990 known for economic reforms and as the first woman to hold the position.
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33
Deng Xiaoping
Chinese leader from 1979-1989 who implemented significant economic reforms and opened China to the international market.
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34
Augusto Pinochet
Dictator of Chile (1974-1990) known for his controversial rule and economic policies following a military coup.
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35
World Trade Organization
Global organization established in 1995 to manage international trade rules and promote globalization.
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36
NAFTA
North American Free Trade Agreement signed in 1992 establishing a trade zone among the USA, Canada, and Mexico.
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37
ASEAN
Association of Southeast Asian Nations formed in 1967 to promote economic integration among Southeast Asian countries.
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