Mamu Ally
Jan 25
With 6 points analyse factors for the collapse of legitimate trade in 19c? ?
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Jan 25
1) Abolition of the Atlantic slave trade: The abolition of the transatlantic slave trade in the early 19th century had a significant impact on legitimate trade. Prior to abolition, many European countries, particularly Britain, heavily relied on the slave trade for labor in their colonies. With the end of the slave trade, there was a decline in the demand for goods produced by enslaved labor, leading to a collapse in the trade of these goods.
2) Industrialization: The rapid industrialization in Europe during the 19th century led to a shift in economic priorities. European countries started focusing more on industrial production and manufacturing, which reduced their dependence on trade with colonies. This shift in economic priorities resulted in a decline in the demand for goods from colonies, leading to a collapse in legitimate trade.
3) Political instability in colonies: Many colonies experienced political instability during the 19th century, which negatively impacted legitimate trade. Wars, rebellions, and conflicts in colonies disrupted trade routes, damaged infrastructure, and created an uncertain business environment. This instability made it difficult for European traders to conduct business in these regions, leading to a collapse in legitimate trade.
4) Competition from other trading powers: European countries faced increasing competition from other trading powers, such as the United States, during the 19th century. The rise of the United States as an industrial power and its expansion westward led to the development of its own trade networks, reducing the reliance on European goods. This competition further contributed to the collapse of legitimate trade for European countries.
5) Economic policies and protectionism: Some European countries implemented protectionist policies during the 19th century, which restricted trade with colonies. These policies aimed to protect domestic industries and promote self-sufficiency. However, they had the unintended consequence of reducing the demand for goods from colonies and contributing to the collapse of legitimate trade.
6) Changing consumer preferences: The changing consumer preferences in Europe also played a role in the collapse of legitimate trade. As industrialization progressed, European consumers started demanding different types of goods, such as manufactured products and luxury items. This shift in consumer preferences reduced the demand for traditional colonial goods, leading to a decline in legitimate trade.
2) Industrialization: The rapid industrialization in Europe during the 19th century led to a shift in economic priorities. European countries started focusing more on industrial production and manufacturing, which reduced their dependence on trade with colonies. This shift in economic priorities resulted in a decline in the demand for goods from colonies, leading to a collapse in legitimate trade.
3) Political instability in colonies: Many colonies experienced political instability during the 19th century, which negatively impacted legitimate trade. Wars, rebellions, and conflicts in colonies disrupted trade routes, damaged infrastructure, and created an uncertain business environment. This instability made it difficult for European traders to conduct business in these regions, leading to a collapse in legitimate trade.
4) Competition from other trading powers: European countries faced increasing competition from other trading powers, such as the United States, during the 19th century. The rise of the United States as an industrial power and its expansion westward led to the development of its own trade networks, reducing the reliance on European goods. This competition further contributed to the collapse of legitimate trade for European countries.
5) Economic policies and protectionism: Some European countries implemented protectionist policies during the 19th century, which restricted trade with colonies. These policies aimed to protect domestic industries and promote self-sufficiency. However, they had the unintended consequence of reducing the demand for goods from colonies and contributing to the collapse of legitimate trade.
6) Changing consumer preferences: The changing consumer preferences in Europe also played a role in the collapse of legitimate trade. As industrialization progressed, European consumers started demanding different types of goods, such as manufactured products and luxury items. This shift in consumer preferences reduced the demand for traditional colonial goods, leading to a decline in legitimate trade.
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