As the Spanish explored toward the West, Portuguese went the East way. They were looking for a route to Indies for direct trades with South Asia.
Prince Henry the Navigator in 1488, reached around the tip of Africa, Cape of Good Hope. Then Indian Ocean area. Vasco da Gama in 1489 reached India and returned to Portugal with spices and other goods. |
new economy
atlantic tradeThe circuit around Middle Passage, between Latin America, Europe and Africa, marked a new economic chance for Great Powers.
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slave tradeFrom Africa to Latin America, captured African slaves were traded for the plantation products to be sent to Europe. Most African rulers and Europeans benefited, by enlarging plantations. Manufactured goods were sent from Europe to Africa.
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economic policiesMercantilism is the one explained before in Transformations of Europe, but another policy comes out. The Capitalism. Economics rather now depended on private institutions, so more competitions, more profit, more distance.
Also another new economic form were chartered companies, which were private companies with royal charter. (ex. Dutch West India Company) |
recommended video
CRASH COURSE #229 (Capitalism and Dutch West India Company)
https://www.youtube.com/watch?v=zPIhMJGWiM8&list=PL8dPuuaLjXtNjasccl-WajpONGX3zoY4M&index=29
CRASH COURSE #33 (Capitalism and Socialism)
https://www.youtube.com/watch?v=B3u4EFTwprM&list=PLBDA2E52FB1EF80C9&index=33
https://www.youtube.com/watch?v=zPIhMJGWiM8&list=PL8dPuuaLjXtNjasccl-WajpONGX3zoY4M&index=29
CRASH COURSE #33 (Capitalism and Socialism)
https://www.youtube.com/watch?v=B3u4EFTwprM&list=PLBDA2E52FB1EF80C9&index=33