Recent orders
Impacts of international Trade to World History
Impacts of international Trade to World History
Student’s Name
Institution
Impacts of international Trade to World History
The international trade is famous and significantly impacted the world history up to date. The international trade involved various continents in the world where several trade partners formed trade routes where the main aim was an exchange of various commodities. The international trade enhanced the advancement of the commercial sector as well as economic development as apart from goods there was an exchange of ideas. The partners of the trade were business orientated, and their primary focus was the creation of wealth as seen from the trades’ results of many participants evolved as wealthy merchants as well as empowerment of empires. In this paper, the main partners of international trade, the reasons for various partners having interest on a certain commodity, the traded items as well as the trades’ impact on various involved parties are discussed into a profound extent. The triangular trade, Columbian trade, and the Spice trade are put in consideration in emphasizing on the impact of international trade to the world.
The triangular trade also referred to as the Atlantic trade involved the voyage that began in Europe where industrial goods were loaded and taken to Africa in exchange for the slaves who were taken to America. The principal partners in this trade route were the Europeans, Africans, and the Americans. After the Europeans transport goods to Africa in exchange for slaves, then the slaves could be taken to America where they could be sold as slaves. America was commonly known for the production of agricultural products among many others which could be later transported to Europe for processing to final goods. Therefore, there was a high demand for labor for the production in America hence the high demand for slaves (Zhou & Latorre, 2014). The Africans were interested in the merchandises such as clothes, jewelry, and ornamentals among any others provided by the Europeans because they did not have the industries and other technical requirements to transform goods into final products. Apart from slaves, the Europeans could also get ivory, tusks as well as hides and skin which were raw materials to their industries. The Europeans main concern was earning capital and as well as the market for their products making the triangular trade fundamental to them. The Atlantic Trade partners mutually benefited from the good exchanged.
The Columbian Trade is one of the widely held world trade that involved both east and west in the exchange of goods. It played a significant role in consideration in the events regarding agriculture, culture, and ecology in regards to the history of man. Christopher Columbus was the pioneer of the trade which set a proper phase in world’s communication as well as the process of colonization. It mainly involved the contact between the European and America who were referred to the old and new world respectively. It also at a later stage involved other continents which include Asia and Africa. The trade majorly involved the exchange of crops and livestock varieties between the continents which was greatly facilitated by the new settlement of Europeans in America. The introduced plants and livestock created a significant diversification in America’s ecosystem as well as a source of wealth. The Columbian Exchange also led to the trade of diseases which affected both animals and plants in the involved partners (Findlay & Lundahl, 2017). The primary interest of the parties involved in the trade was introducing new varieties of crops and livestock as well maximization of agriculture in wealth generation.
The spice trade involved the exchange spice between the ancient empires in Europe, Northeast Africa, and Asia. Among the great spices traded include ginger, cassia, pepper, cinnamon, turmeric, and cardamom. These spices were known popularly, and they were significantly used as commodities for exchange in the eastern world. During the trade, the partners followed the spice route which connected the east and west across the Mediterranean. The partners were interested in trading spices as they were commonly known as ancient herbs that were used for medication as well as advantageous nutrition. Spices were the underlying and beneficial commodities being transported during the trade were the fundamental source of the name routes (Gilboa & Namdar, 2015). The partners of the trade significantly benefited from the income earned leading to economic development.
As discussed above, the triangular trade, Columbian trade as well as the Spice trade significantly impacted the history of the world as well as the well-being of the partners involved. The effects are experienced up to today as there is greater diversification of industrial development, scientific inventions as well as agricultural development in the world.
References
Findlay, R., & Lundahl, M. (2017). International trade and factor mobility with an endogenous land frontier: Some general equilibrium implications of Christopher Columbus. In The Economics of the Frontier (pp. 261-281). Palgrave Macmillan, London.
Gilboa, A., & Namdar, D. (2015). On the beginnings of south Asian spice trade with the Mediterranean region: a review. Radiocarbon, 57(2), 265-283.
Northrup, C. C., Bentley, J. H., Eckes Jr, A. E., Manning, P., Pomeranz, K., & Topik, S. (2015). Encyclopedia of World Trade: From Ancient Times to the Present (Vol. 1). Routledge.
Zhou, J., & Latorre, M. C. (2014). How FDI influences the triangular trade pattern among China, East Asia and the US? A CGE analysis of the sector of Electronics in China. Economic Modelling, 44, S77-S88.
. What are the advantages of Internet-based survey research over traditional survey research
1. What are the advantages of Internet-based survey research over traditional survey research?
Advantages of internet based survey research are that it takes the benefit of capability of Internet for giving the access to the groups as well as individuals who could be tough, when not impossible, for reaching by rest of the channels. Another advantage is that Internet-based survey research can also save time for the researchers. Internet-based survey researchers may also save money through moving to the electronic medium from paper format.2. Conduct an online search for “green awards” to learn about the various awards programs recognizing environmental consciousness and sustainable practices. Select one that recognized a business for a sustainable marketing practice and develop a brief presentation explaining why the company received the award.
SEED Initiative (www.seedinit.org) has been founded through UNEP, UNDP along with IUCN for supporting the small scale enterprises heading towards sustainability. Green Tech, has been the 1st Gambian organization had awarded the exceptional social along with environmental start up enterprise. This award gives the recognition, capacity of building as well as linkages towards potential cooperation partners along with support programs. Therefore this had been accompanied with the capacity building program that is inclusive of the remote tutoring, the in-country capacity building workshop along with symposium and also workshop within the awarding ceremony. 3. Explain how marketing intelligence differs from marketing research.
The key difference among marketing intelligence along with marketing research has been that latter has been more organization specific. Marketing intelligence has present information, which small business owners have been using for studying the markets, competition, political implications along with consumer demographic variables. Marketing research data has not been readily present. Organizations often use phone, Internet and in person surveys to the garner marketing research data. Marketers use both kinds of information for analyzing its business situations along with developing the marketing strategies.4. What is sustainable marketing? Explain how sustainable marketing concept differs from the marketing concept and the societal marketing concept.
Sustainable marketing has been the process of promoting the products, which have been environmentally safe at retail level along with touting the organizations commitment towards sustainable practices at public relations level. Societal Marketing has generally been the marketing concept, which has been of the perspective that the organization should make best marketing decisions after considering the customer wants the needs of the organization along with most of all long term interests of society.
Impacts of international interdependence on the US economy
Name:
Course:
Institution:
Date of submission:
Impacts of international interdependence on the US economy
The term economic interdependence is used in global field of economics to refer to an economic system where many companies and industries in a given economy become depend on each other, Economic interdependence is also used in international trade to define the economic relationships that are developed between countries and do business with each other and their economies soon become reliant on each other. Economic interdependence is often a result of the continued labor specialization within the various sectors of the economy. Economic interdependence is pronounced in the developed economies where there is increased production activities making it possible for businesses to specialize in the production chain foe increased efficiency and convenience. Economic interdependence ensures that companies or countries focus on manufacturing what they are best at and rely on others to provide them with what they are not able to produce and this result in globalization of the economy. Globalization is used in international trade to refer to the interconnectedness of global economies as each economy relies on the other for certain products.
The global economy has changed over the years to become a complex system that is independent and interconnected in different spheres including the economic sector. The American economy has found itself in the receiving end as it has developed to become reliant on various international factors that impact on it. The international dependence of the world’s strongest economy is as a result of the various achievements that have been made is a result of the globalization of the American and global economies. The United States of America is the world’s largest economy and virtually every country of the world is dependent on it although the growth of the American economy also depends on the rest of the world for its continued expansion and growth. As the world economies become more interdependent on each other, the impacts on the American economy continue to be more pronounced.
Globalization of the American economy has made it possible for the country to work with other partners in addressing global issues that affect the country’s economy although they are externalities in nature. For instance, the issue of climate change has had adverse activities in the development of the American economy as sources of raw materials for American companies are diminishing threatening their collapse. As the economic interdependence continues to increase for the US economy, there has been tremendous achievements made in addressing global issues that affect global businesses including climate change, spread of communicable illness and global warming through global collaborations.
The first impact of the international interdependence on the US economy is that it has played a major role in promoting trade liberalization with the aim of creating a free market economy. The American economy is currently interdependent on other world economies such as China for various goods that they are not able to manufacture and in return exchange them with what they are able to produce. Many economists and international policy makers have outlined the importance of international economic interdependence as it promotes and sustains international trade as there is no economy that can survive on its own. Although the American economy is the world’s strongest economy, it depends on the emerging markets to act as the new markets for the surplus goods that are produced within the American economy. To ensure that the American multinationals continue to have market for their products, the Americans have to initiate trade agreements with other countries and this has led to the enactment of free market economies.
The international interdependence of the American economy has made it possible for the outsourcing of labor that is needed within the American economy. For many years now, the American population has remained stagnant and this has led to an aging workforce. Since the American economy is still thriving regardless of the aging population, it has become necessary for importation of human resources to keep the economy growing. A look at the American economy shows that it is one of the most preferred destinations for immigrants across the globe who are looking for economic opportunities away from their homes. As the American economy becomes dependent on the international economy, it has it easier for businesses to outsource human resource from all other the global to meet the local demands.
The economic interdependence globally has impacted positive the cost of goods and services across the country. The discovery of the internet as helped in creating a global village where people are able to engage each other virtually. Many Americans have a wide choice of goods and services from which to choose what they need due to market liberalization. For many years, many American multinationals had a monopoly in the market and this led to the high cost of goods and services for the American people. The economic interdependence that is currently being experienced within the American society has ensured that more goods are brought into the United States from other global business players hence increasing the competition for local companies. Many American businesses have also succeeded in outsourcing labor by establishing their manufacturing plants in developing countries such as Pakistan, India and China as it helps then minimize the production costs. The results of the competition and outsourcing of labor is a significant reduction in the costs of products available to the American people leading to improved living standards across the country.
International interdependence has ensured that the American economy is no longer autonomous as its growth and expansion is now dependent on other global economies. After the Second World War when the United States played a major role in bringing to an end the war, many European economies were on the verge of collapsing as they had experienced destruction during the war. During this time, the American economy was very strong and expanded rapidly without minimal connection to the global economy and the impacts were felt. The unemployment rate reduced significantly as industries were set up and provided many employment opportunities to the American people. The current international interdependence seems to work negatively on the growth of the American economy as it has become vulnerable to various global economic shocks. When the various European and the strong Asian economies such as Japan, China and Singapore experience a slowdown in the economies, the American economy slows down too. This means that the American economy is no longer autonomous and different socio-economic and political developments have the capacity to impact on the American economy significantly.
Another impact of the international interconnectedness is the increased export of jobs to other economies as more American multinationals are moving their manufacturing plants to developing nations where human resource is abundant. During the late 20th and early 21st century, the American economy has evolved greatly from the industrial economy of the 19th and 20th century to a service economy in the 21st century. More than half of the jobs that are being created within the American economy are in the service industry which are not adequate enough to meet the demand for jobs. As more industries are being relocated form the United States, there has been concern raised as many people are being rendered jobless and this impacts negatively the living standards within the country.
The impacts on the international interdependence on the United States economy are both beneficial and detrimental in nature. An analysis of both the benefits and limitations of globalization to the American economy clears indicates that the American economy cannot survive on its own and requires the contributions on the global economy for its continued growth and expansion in the coming years.
References
Cohen, Benjamin J. International political economy. Routledge, 2017.Cohn, Theodore H. Global political economy: Theory and practice. Routledge, 2016.Gilpin, Robert. The political economy of international relations. Princeton University Press, 2016.Nye Jr, Joseph S. Bound to lead: The changing nature of American power. Basic Books, 2016.Oneal, John R., and Bruce M. Russett. “The Kantian peace: The pacific benefits of democracy, interdependence, and international organizations, 1885–1992.” Bruce M. Russett: Pioneer in the Scientific and Normative Study of War, Peace, and Policy. Springer, Cham, 2015. 74-108.