1. Global Networks of Communication and Exchange KEY CONCEPTS AND EVENTS

2. Terms and Definitions  Network of Exchange :  A group or system of interconnected people or societies in which goods, ideas, and culture are exchanged between them.

3. Global Commerce: Key Networks

4. Age of Global Commerce: Timeline

5. Stop and Consider:  As a the absolute ruler of a European country, you have recently heard of Portuguese and Spanish travels to regions rich in valuable resources. You become deeply interested in the idea of reach such regions yourself.  Why would you be interested in this?  How would you get involved this?  What would you do once you reached and established such regions as your own? Please briefly jot down your ideas and thoughts.

6. Commerce  The act of buying and selling, especially on a large scale.  Social dealings between people.

7. Global Commerce: Mercantilism  Mercantilism  The dominant economic theory during the 16 th to 18 th centuries.  Nation's strength depended upon its wealth; needed a favorable balance of trade  A national economic policy whose goal is accumulating monetary riches (i.e. gold and silver) through the profitable trade of goods – especially finished goods.

8. Global Commerce: Mercantilism  Generally lead to:  Competition between European nations for resources - Nations that controlled own sources would not need to import from competing nations.  Nations began to establish colonies  Wealthy nations having power for military and expanded influence  Exploitation of raw resources to create finished products

9. Commercialization  Commercialization is the process of introducing a new product or production method into commerce—making it available on the market.

10. Capitalism  an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.

11. Portuguese

12. Spain

13. Netherlands (Dutch)

14. England

15. Global Commerce: The Silver Trade  Gives birth to the first genuinely global network of exchange. (i.e. silver coins – common currency)  Rich silver deposits found in Spanish South-American holdings (i.e. Potosi, Bolivia).  Spanish-America produced 85% of the world’s silver supply during the Early Modern Era (Native American miners).

16. Global Commerce: The Silver Trade  Japan another source of silver  Silver would be mined in Spanish-America   Shipped to the Spanish-held Manila in the Philippines, as well as Spain in Europe   then utilized in Asian (silks, porcelain) trade.

17. Potosi, Bolivia – colonial depiction of a vast silver mine.

19. Global Commerce: Atlantic Slave Trade  To meet their growing labor needs, Europeans enslaved millions of Africans in forced labor in the Americas.  Sugar plantations and tobacco farms required a large supply of workers to make them profitable for their owners. Since most of the Native Americans that were used for labor had died, they turned to Africa for a new source of labor.

20. Global Commerce: Atlantic Slave Trade  The Portuguese were the first Europeans to Explore Africa.  They were more interested in trading for gold than for slaves.  The colonization of the Americas changed the focus of trade.  There were several advantages in using Africans:  They had been exposed to European diseases  They had experience in farming  They had little knowledge of the land and there were no familiar tribes

21. Global Commerce: Atlantic Slave Trade  This trade for slaves became the Atlantic Slave Trade  Between 1500 and 1600, about 300,000 slaves were taken to the Americas.  During the next 100 years, the number jumped to 1.5 million, and by 1870 the number was about 9.5 million.

22. World History CrashCourse: Atlantic Slave Trade  https://www.youtube.com/watch?v=dnV_MTFEGIY