The History of International Trade

1. The History of International Trade

2. The history of international trade chronicles notable events that have affected the trade between various countries. • In the era before nations were formed, the term 'international' trade cannot be literally applied, but simply means trade over long distances; the sort of movement in goods which would represent international trade in the modern world.

3. Early trade routes between the East and the West

4. Spices were used and traded from the earliest times. In the Bible, they were mentioned as valuable goods. Queen of Sheba included spices among gold and jewels as gifts to King Solomon. For centuries Arabs , who acted as middlemen in the trade with the Orient and Africa, have kept secret the source of their supply to preserve their monopoly. They were telling only of dark and menacing distant lands, while their caravans, numbering sometimes as may as four thousand camels laden with gold as well as spices, crossed vast Asian territories.

5. The oldest route was probably from the Malabar coast of India up to the Persian Gulf via the Tigris or Euphrates valleys to Babylon.

6. In some areas trade has not changes for thousands of years

7. Voyages of Discovery

8. In 1492 Christopher Columbus set sail with three ships, the Nina, Pinta and Santa Maria and about 90 men. On October 12, 1492 Columbus landed on an island southeast of Florida. He claimed this island for Spain and named it the Indies, since he thought he had landed in India. He named the native people of the island Indians. The Indians were excited by the newcomers and their gadgets. They especially enjoyed using their cell phones and desktop computers. (just kidding)

9. On June 24, 1497, Cabot spotted land and felt sure he had discovered a very quick route to India. Cabot and his crew went ashore and planted the banner of King Henry VII and claimed the land for England. However, Cabot was quickly disappointed. This land did not have the riches he had read about. This land was a total wilderness. It is believed that Cabot actually landed on his second voyage somewhere near Newfoundland. Although he had not discovered the long dreamed of route to Asia, he did claim parts of Canada for England. Cabot returned home to England and the King rewarded him with large sums of money.

10. In 1603, Champlain sailed to Canada and explored the St. Lawrence River for the king. He also explored and wrote about Niagara Falls. In 1608, Champlain returned to Canada to establish a fur trading post. He chose a site along the St. Lawrence River and named it Quebec. It became the first permanent settlement in New France.

11. Global trade expanded into the 16th century. The slave trade began in the 15th century and by the seventeenth century the trade was in full swing, reaching a peak towards the end of the eighteenth century. It was a trade which was especially fruitful, since every stage of the journey could be profitable for merchants -- the infamous triangular trade

12. TRIANGLE TRADE From Americas, the first leg of the triangler trade route bring sugars, tabacco, and cotton to Europe for trade. Then the second leg brings rum, textiles and manufactered goods to Africa so they can trade with the Africans for slaves. The third legs brings the Africans over to America. When they get to America, they drop off the slaves and sell them, and drop off the goods they recieved then they head back to Europe to restart the cycle.

13. Slavery The Middle Passage refers to the forcible passage of African people from Africa to the New World, as part of the Atlantic slave trade. The term " Middle Passage" refers to the middle leg of the transatlantic trade triangle in which millions of Africans were imprisoned, enslaved, and removed from there homeland. An estimate of 15% of Africans died at sea, or committed suicide. The African slaves were considered cargo to the merchants and put into ships without considering there human rights. Many slaves became seasick or had diarrhea. The conditions were so hot that some slaves suffocated. The Middle Passage was a horrible journey.

14. The Fur Trade At first, fur was not the most important thing that was traded. Then, in the late 1500’s something happened: hats made from beaver felt became very fashionable. Everybody wanted one! At the same time, beavers were becoming extinct in Europe from over hunting. One of the first to realize the potential of trade in North America was Samuel de Champlain. It was not long before the English also saw how much money could be made in the fur trade. The competition between England and France became fierce. They both wanted to be in control of the land and its resources. The English and the French were soon sending shiploads of beaver pelts back to Europe. Competition in the fur trade helped spark fighting between First Nations tribes. The Iroquois would ambush the Huron traders who were bringing furs to Quebec. As a result, the fur trade almost came to a stop.

15. Did you know! Many believe that fishermen and other travelers reached the coast of North America long before Columbus, looking for fish. They may have also traded furs. If so, they kept it a secret so nobody else could profit from their discovery. The fur trade between Europeans and Aboriginals may even have begun before the year 1400 –almost 100 years before Columbus reached America!

16. Let’s test your fur trade knowledge

37. Of course trade continued to grow over the next several centuries and in 2011, the dollar value of world merchandise trade amounted to $18.2 trillion. X 18