1. Spices

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

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

4. 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

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

6. 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

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

8. Vanilla

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

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