1. Chapter 16 The World Economy

2. Welcome to the Beginning of the Modern Era!!!!!!! Early Modern Era: 1450-1750 During this time frame: – Ottomans: 1453 – Western Europe: 1434-1492 – China: 1433 This is a time of change and transition No significant global change to gender roles/relationships anywhere in the world

3. Power Shifting Consequences – Not only a power shift to the West but also a redefinition of how societies interacted

5. The West Iberian Peninsula (Catholic) had firm control over most of South America Others – France: Crossed Atlantic first and explored the Great Lakes Region and Canada – British: Really wanted to find the NW Passage. Did some exploring in the Hudson Bay but started colonizing North America – Dutch: Competed with Portugal in SE Asia Established settlements in Southern Africa

6. Colonial Land Holdings

7. Trading Companies Companies given governmental monopolies on trade in a designated region Not really regulated but the home government – Were able to create armies and their own money to protect their interests – Almost like independent governments in the region Example: British East India Company

9. Gunpowder Empires Who’s included? – Western Europe (Spain, Portugal, France, Great Britain) – Asia: (Ottomans, Mughals, Russians)

10. Columbian Exchange Many consequences came with this Disease  Europeans had to build a new population Crops  Better nutrition and easier food means more people Animal Husbandry  better labor

11. Imbalanced Trade Centers of Exchange: – Old: Indian Ocean – New: Atlantic Ocean Muslim trade remained active – Ottomans never able to catch up with the West – Lepanto Asian trade was still well established but on a small scale and very controlled

12. Moving toward a World Economy Western Europe established seafaring – ALSO they developed manufacturing – They needed cheap raw materials so they can make it into expensive finished goods Mercantilism Core-dependent system: – Not most of the world – VERY important concept Coercive Labor System

13. Core-Dependent System Core Nations  the empire that gets the raw materials from the dependent areas to manufacture – Control the making and the shipping Dependent Areas  provided the raw materials and nothing else – Had to depend on the core – Latin America and parts of Africa – Relied on cheap production of unprocessed goods

15. Colonization Why were colonizes so significant to the changing world? Effects: – “international inequality” Slave trade/coercive labor New social/ethnic classes