Chapter 10: The World Economy

• Western Europe was able to gain a new role in world trade by developing better ships. Mongol influence brought Chinese weapons and tools to Europe and they used it on expeditions. Explorers such as Ferdinand Magellan and D Gama allowed European power onto new land.
• Firstly, disease wiped out of heavily reduced the population of Native peoples and the new European colonies. Deforestation, soil erosion, and the beginnings of overfishing began, and killing the native species for the fur, the environment suffered. Large population increases in China and Europe occurred because of more food.
• Western Europe enslaved Africans and others for labor. Western Europe thrived while India, Africa, etc. All had their economies decline or be centered on Europe. China still had their export but refused to trade.
• The new European colonies took minor expansions of state power. In the Americas, trade with China began. Other than that, Europeans still controlled their colonies.
• World economy


  Based on the control of the seas, 16th century economy of the entire world, centered on Europe. International exchange of plants and animals, diseases products, etc.
• Cape of Good Hope


  The Southern tip of Africa. Circumnavigated by the Portuguese.
• Christopher Columbus


  Genoese explorer who sailed to the New World and enslaved the Natives. Initiated European discoveries in Americas.
• Ferdinand Magellan


  First circumnavigated the globe and died by the Inca. Allowed Spain to claim the Philippines.
• Dutch East India Company


  A stock company that obtained a monopoly over Asia. They acted as their own independent government.
• British East India Company


  A joint stock company that obtained government monopoly over trade in India. Also acted independent in India and other areas they claimed.
• Lepanto


  The naval battle between Spain and the Ottoman Empire, which Spain won. This diminished any Muslim chance of challenging European naval power.
• Core Nations


  Typically European nations who profited from the world economy. In control of commercial services.
• Mercantilism


  Stressed governments' promotion of limiting imports from other nations for tax. This shifted the focus onto Atlantic trade.
• Mestizos


  Mixed European and Indian people in Mesoamerica and South America. They got looped into forced labor systems.
• Vasco de Balboa


  The first Spanish captain settling on mainland Mesoamerica. Led to the conquest of Aztec and Inca empires.
• Francisco Pizarro


  Spanish explorer who led the conquest of the Inca empire. This lead to Incan possession falling to Spain.
• New France


  French colonies in North America (Canada). Taken by the British after the Treaty of Paris, France losing most power in North America.
• Seven Years' War


  War between France and Britain resulting in the Treaty of Paris. France lost power and Britain gained power.
• Treaty of Paris


  The end of the 7 years war. Gave New France to England, France losing power in North America.
• Cape Colony


  Dutch colony established as a supply station. Allowed for Dutch influence in Africa.
• Boers


  Dutch farmers in Cape Colony in Southern Africa. Enslaved natives because of conflict, changing the lives of many.
• Calcutta


  Headquarters of the British East India Company captured by Britain during the 7 years war. Started a new era of British India.