Economic Transformations: Empires and Encounters 1450-1750

Europeans and Asian Commerce

• Portuguese trade with India was a result of years of effort and exploration.

  • Vasco de Gama reached India in 1498 and tapped into the trading network at Calicut.

• Motives for trade included spices like nutmeg, cinnamon, and pepper, as well as Chinese silk and Indian cotton.

• European economic and demographic recovery in the 15th and 16th centuries increased demand for products.

• Europeans paid in specie (gold or silver) for Asian products due to low demand for European goods.

• The Portuguese established a trading post empire in strategic locations to control trade routes.

Spain and the Philippines

• Spain challenged Portugal's position by establishing the Philippines.

• Spanish missionaries converted Native Americans to Christianity, leading to a vast majority becoming Christians by 1700.

• Conversion to Christianity led to changes in the status of Native American women.

• Resistance to Christianity led to movements like Taki Onqoy in Peru.

• Syncretism, blending old pagan customs with Christianity, was common in Native American societies.

The East India Companies

• The British and Dutch East India Companies were granted monopolies and displaced the Portuguese in the Indian Ocean.

• These joint-stock corporations focused on controlling trade routes and monopolizing products like cloves, cinnamon, and nutmeg.

• The Dutch used force to seize islands, establish plantations, and monopolize the spice trade.

• The British focused on India and displaced the Portuguese in the Persian Gulf and Arabian Sea.

• Both companies gained large profits and dealt in bulk commodities like pepper and textiles.

Conclusion

• European exploration and trade with Asia led to economic transformations, competition among empires, and the spread of Christianity in the Americas and Asia.

• The establishment of trading posts, monopolies, and joint-stock companies played a significant role in shaping global trade during this period.

European Influence in Asia

• Limited political control in the Philippines, parts of Java, and a few Spice islands

• Siam expelled the French in 1688 after a religious conversion attempt

• Japan, China, and the Mughals did not see Europeans as a military threat

• Europeans arrived in Japan in the 16th century, welcomed by local daimyo

  • Interested in military technology, shipbuilding, and commercial opportunities

  • Christianity gained over 300,000 converts by the late 1500s

• Japan unified politically under the shogun in the early 17th century

  • Shogun expelled Christian missionaries and suppressed Christianity

  • Closed off commerce with Europe from 1650-1850

• Japanese traders used force for commercial interests, unlike European merchants

Global Commerce and Silver Trade

• Spanish supplied 85% of global silver from the 16th to the 18th centuries

• Chinese demanded taxes in silver, leading to a rise in silver prices

• Hapsburgs and other Europeans benefited from the silver trade

• General Crisis of the 17th century caused by lower silver value, inflation, and poor harvests

Trade Dynamics in Asia

• Manila attracted Dutch, Chinese, and Portuguese merchants for trade

• Japan and the Philippines were major sources of silver in the 16th century

• Tokugawa shogunate used silver profits for unification and investment

• China required taxes in silver, impacting economic activities

• Europeans acted as middlemen for silver and trade goods to China

Fur Trade and Global Commerce

• Furs became a top commodity from the 16th to the 18th century

• Demand for furs increased due to population growth and over cultivation

• Europeans traded furs in North America, leading to competition and changes in hunting practices

• Indians negotiated fair prices for their products with Europeans

Atlantic Slave Trade

• 12.5 million people were taken as slaves from Africa from 1500-1866

• Introduction of Africans led to the African diaspora in the Americas

• Slavery existed in many civilizations, with slaves captured during wars

• American slavery was unique in scale and based on plantation labor

Ecological Impact and Social Changes

• Beaver and other animals faced extinction due to fur trade

• European standard of living rose with warmer clothing

• European diseases decimated native tribes in North America

• Indian societies were impacted by alcohol and trade with Europeans

• Women played significant roles in commercial manufacturing and trade

Sugar Plantations and the Birth of Modern Racism

• Slavic speaking people from the Black Sea region were the majority of slaves for Mediterranean sugar plantations.

  • The word "slav" led to the word "slavery" today.

• Ottomans cutting off the slave supply led Portugal to discover a slave trade in West Africa.

• Africans were preferred for slavery due to being less expensive and easily identifiable.

• African slavery possibly led to the birth of modern racism.

The Slave Trade in Practice

• Europeans mainly stayed on coastal trading ports and worked with Africans for slave trade.

• Africans traded slaves for European and Indian textiles, cowrie shells, metal goods, firearms, and more.

• Portuguese profited significantly from the slave trade after the 1530s.

Slave Trade Statistics and Destinations

• The high point of the slave trade was between 1700-1850.

• Most slaves came from West and South-Central Africa.

• Majority of slaves ended up in Brazil and the Caribbean for labor demands on sugar plantations.

• Maroon societies were formed by runaway slaves in the Caribbean and South America.

Impact of the Slave Trade in Africa

• Slaves outnumbered Europeans in the Americas until the 19th century.

• Slavery slowed Africa's growth economically and socially.

• Imbalance in African society due to more men being sold as slaves.

• Some women married Europeans in Senegal and Gambia, becoming rich and powerful.

Political Impact on African Societies

• Kingdom of Dahomy and Kingdom of the Longo had matriarchal societies participating in the slave trade.

• Queen Nzinga of Matamba opposed Portuguese imperialism.

• Benin opposed the slave trade until the cost of pepper and cloth dropped in