Spices.

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Presentation transcript:

Spices

Europe’s Love of Spices Status symbol Flavorful, exotic Crusades Medicinal value Means of exchange ¤

Getting Spices Original source Traded for spices Muslim, Turkish control Sold E. Europeans Slaves build ME empires ¤

Getting Spices (cont.) Eur. exploration Portugal v. Spain Trade shifted hands ↑ trade bt. Eur./Asia Led to gl. currency, credit, MNCs Gold standard, fiat currency, GN domination Portugal v. Spain Catholic church ¤

Getting Spices (cont.) Eur. gained control Islam Ceylon No monopoly Colonization Transplant spices ¤

Political Issues & the Spices Peppercorn Cloves Used like cash WTO ruling IPC only spice IGO ¤ Most traded Vietnam v. India Cinnamon Sri Lanka Nutmeg Status symbol Colony production

GN v. GS Cash crops Neocolonialism Market volatility FTAs Currency speculation Prices unstable Weather, disasters Competition FTAs New producers ¤

Vanilla

Vanilla Cyclone Enawo hit Madagascar Global effect Causes shortage Prices ↑ Record high >$600/kg $72/lb to $320/lb All natural demand ¤

The Spice Trade Recap Colonization Global monetary system Cash crop reliance Global trade system Free trade = competition MNCs GN control, advantage Globalization Human security ¤