ECONOMIC Imperialism [AP World History] Unit 6 Topic 5 (6.5)

Summary

In this video, Heimler explores the concept of economic imperialism, focusing on how industrialized nations exerted economic control over countries in Asia and Latin America between 1750-1900. Using examples from India, China, and Latin America, he explains how powers like Britain and the United States manipulated local economies for profit—such as the British exploiting India's cotton production, and Britain's forced opium trade with China. The U.S. and Britain also made significant investments in Latin American industries for economic gain. This era demonstrated how economic dominance often overshadowed political conquest in imperial strategies.

Takeaways

• 😀 Economic imperialism occurs when one country exerts significant economic power over another.
• 😀 India was a key site for economic imperialism, where Britain dominated the cotton industry for their own industrial needs.
• 😀 The British East India Company played a central role in establishing British economic dominance in India.
• 😀 In China, British demand for tea, silk, and porcelain created a trade imbalance, which led to the British smuggling opium to balance trade.
• 😀 Opium addiction in China allowed Britain to solve its trade deficit, sparking the Opium Wars as China attempted to expel the British.
• 😀 The British victory in the Opium Wars resulted in economic control over China rather than political dominance.
• 😀 Following the Opium Wars, China was divided into spheres of influence where countries like Britain, Japan, and the U.S. had exclusive trading rights.
• 😀 In Latin America, countries like the U.S., Britain, and Spain sought raw materials, low-wage labor, and markets through economic imperialism.
• 😀 The U.S. initiated its imperialism in Latin America with the Monroe Doctrine, claiming dominance in the Western Hemisphere.
• 😀 The U.S. invested heavily in Latin American industries like railroads, mining, and meatpacking, particularly in Mexico and Cuba.
• 😀 Britain similarly invested in Argentina, particularly in livestock breeding, farming, and the development of Buenos Aires’ port to facilitate trade.

Q & A

What is economic imperialism?

Economic imperialism is a situation where one country has significant economic power over another country. It typically involves controlling a nation's economy through trade, investment, or the exploitation of resources, rather than through direct political control.

How did Britain establish economic imperialism in India?

The British East India Company established a presence in India in the early 1600s to access the profitable spice trade. Over time, Britain exerted political and economic control, turning India's economy into one that primarily produced cotton, which was needed for British factories.

What was the British role in China's economic imperialism?

Britain created a trade deficit with China by importing large quantities of silk, porcelain, and tea while facing limited Chinese interest in British goods. To resolve the deficit, Britain forced Indian farmers to produce opium, which was smuggled into China, leading to widespread addiction and further economic dominance.

What were the Opium Wars, and why did they occur?

The Opium Wars were conflicts between China and Britain in the 19th century, triggered by China's resistance to the opium trade. After the British defeated China due to their superior military, they imposed unequal treaties that granted them economic privileges, including the opening of additional ports for trade.

How did the concept of 'spheres of influence' emerge in China?

After the Opium Wars, other nations like Japan, France, Germany, Russia, and the United States sought economic advantages in China. To avoid conflict, they agreed to divide China into 'spheres of influence,' where each country had exclusive trading rights.

What was the Monroe Doctrine, and how did it relate to U.S. economic imperialism?

The Monroe Doctrine, declared by President James Monroe in 1823, stated that European powers were no longer allowed to intervene in the Western Hemisphere. This policy helped the United States assert its dominance over Latin America, where it pursued economic imperialism by investing heavily in infrastructure and industries.

How did the United States invest in Latin America during the 19th century?

The U.S. invested in the industrialization of countries like Mexico and Cuba, focusing on developing railroads and industries such as meatpacking, guano extraction, and mining. These investments aimed to create new trading partners for the U.S. and enhance its economic power in the region.

What role did Britain play in Argentina’s economic development?

Britain made significant investments in Argentina, particularly in the development of livestock breeding, farming, and railroads. One of the most notable contributions was financing the construction of the Port of Buenos Aires, which facilitated trade and economic exploitation of the country’s resources.

How did Spain’s economic imperialism in Chile operate?

In colonial Chile, Spain’s economic control relied on agricultural exports. When copper was discovered, it became a major export commodity, and the economy became heavily reliant on the extraction and trade of this resource, exemplifying Spain’s economic imperialism in the region.

What was the impact of economic imperialism on non-industrialized nations?

Economic imperialism often led to the exploitation of non-industrialized nations. Industrialized countries, like Britain and the U.S., used their economic power to extract resources, control trade, and dictate the terms of economic relationships, leaving the affected nations economically dependent and disadvantaged.