The Growth of International Trade in Nineteenth Century

Summary

The video explores the growth of international trade in the 19th century, highlighting Europe's rise as a global trade hub while China isolated itself. It examines how capital investment and labor migration drove the expansion of agriculture and commerce, particularly in Britain, where food shortages led to the abolition of the Corn Law. This spurred global agricultural development, especially in Eastern Europe, America, and Australia. Technological innovations like railways and refrigerated ships enabled long-distance trade, improving living conditions in Europe and increasing support for imperialism abroad.

Takeaways

• 🌍 At the turn of the 19th century, China entered a self-enforced isolation, allowing Europe to become the center of trade and commerce.
• 💼 International trade during this period was driven by the movement of labor and goods, requiring both short-term and long-term investments of capital.
• 🥖 Britain faced severe food shortages by the end of the 18th century due to rapid population growth, as domestic production couldn't keep up.
• 🚫 Laws like the Corn Law, which restricted food grain imports, worsened the situation, leading to public misery and eventual repeal of the law.
• 🚜 The repeal of the Corn Law caused British farmers to abandon agriculture and migrate to cities or overseas for work, as importing food became cheaper.
• 🌾 Eastern Europe, Russia, America, and Australia expanded agricultural production to meet Britain's rising demand for food, clearing large areas for farming.
• 🏗️ This agricultural expansion triggered infrastructure development, such as housing and railways, funded by labor and capital investments from financial hubs like London.
• 🚆 Labor shortages in places like America and Australia were met by the migration of 150 million people seeking better opportunities in the global economy.
• 🚢 Technological innovations, like railways, steamships, and refrigeration, improved global trade, allowing perishable goods like meat to be transported long distances at low costs.
• 🍖 The availability of affordable, high-quality imported goods such as meat, butter, and eggs improved the diets of the poor in Europe, enhancing living conditions and promoting social peace.

Q & A

What caused China to enter a period of isolation in the 19th century?

China entered a period of self-enforced isolation at the turn of the 19th century, which allowed Europe to take over as the center of trade and commerce.

How did international trade evolve during the 19th century?

International trade in the 19th century depended on the flow of labor and goods, which required investments of capital, both short-term and long-term, in different regions.

What impact did the Corn Laws have on British agriculture and the population?

The Corn Laws restricted the import of food grains, worsening food shortages and economic hardship. The eventual repeal led to a decline in British agriculture, with many farmers abandoning their fields.

How did the abolition of the Corn Laws affect food consumption in Britain?

After the Corn Laws were abolished, food prices fell, leading to higher consumption in Britain and greater imports from countries like Russia, America, and Australia.

What chain reaction did the demand for British imports trigger in other countries?

The growing demand for British imports led to land being cleared for agriculture in countries like America and Australia. This resulted in the building of houses, railway lines, and ports, all requiring significant labor and capital investment.

How did migration patterns change as a result of global agricultural expansion?

Around 150 million people migrated from their homes to distant lands, especially to places like America and Australia, to work in agricultural and other sectors, driven by labor shortages in these regions.

How did technological innovations contribute to international trade in the 19th century?

Technological innovations like railways, steamships, and the telegraph improved trade by making transportation and communication more efficient, enabling the movement of goods over long distances.

How did the introduction of refrigerated ships impact the meat trade?

Refrigerated ships allowed perishable meat to be transported over long distances, particularly from America, Australia, and New Zealand to Europe, making high-quality meat available at low prices.

What changes did British agricultural practices bring to West Punjab in India?

In West Punjab, the British introduced irrigation canals that transformed semi-desert areas into fertile agricultural lands to grow wheat and cotton for export.

What social impacts did the increase in trade have in Europe during the 19th century?

The increase in trade and commerce improved living conditions for the European population, especially the poor, and promoted social peace. It also strengthened support for imperialism abroad.