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Globalisation Assignment

897 words - 4 pages

Globalisation Assessment Task 3: Research Essay
Question 1: Why can European colonialism be seen as an earlier form of Globalisation?

Colonialism is defined as the exploitation of a weaker country by a stronger country with the goal of strengthening and enriching the resources of the dominant country. European colonialism of its last five centuries shared similarities with other previous colonialisms such as the Egyptians, Phoenicians, Greeks and the Romans, but differed greatly from them (Macqueen 2007). Mainly, because European colonialism was not focused and centered in a single region but shared and spread its religion, culture, economic, technology and political systems throughout ...view middle of the document...

The theory favored accumulating capital and maximizing net export through trading with the India and Chinese civilizations (London 2013). The Europeans offered silver, wine and coral in return for silk, porcelain and tea from China and spices, aromatics, quality textiles, ivory and gems from India (Iroumontreal n.d.). The mercantile economy involved the transfer of commodities and people across the globe on a scale never before seen. By the second half of the 16th century, there was a developing interest in trading across the globe that brought to the creation of many trade routes and trading companies (Gopinath 2008). The British East India Company is often described as the first multinational corporation. In its hey-day, it conducted and controlled 50% of world trade (The East India Company n.d.). The insatiable hunger for funds that is the East India company was the first company in the world to share risk and enable joint ownership of companies through shares of stock. This played a key role in development of early capitalism, an important driver for globalisation (Economic Geography 2012).

Movements of people
In the 16th century, it was possible for the Europeans to venture out of land's sight due to significant technological advances such as the ability to construct ships and navigate through the oceans (Diamond 1999). Colonialism also resulted in the rise of massive movements of people in many European territories. Most of the movement was directly related to the exploitation of natural resources. Large numbers of people, working as laborers, were needed to produce raw materials for export. Immigration began to overseas colonies by settlers from European nations. They came to reside in a new country from being sailors, merchants , soldiers, missionaries or delegates of the crown. In the beginning, they were encouraged by their own governments as a feature of imperial policy,...

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