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History of international trade
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The history of international trade chronicles notable events that have affected the trade between various countries.
In the era before the rise of the nation state, 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.
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The history of international trade chronicles notable events that have affected the trade between various countries.
In the era before the rise of the nation state, 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.
Chronology of events
Ancient
- The domestication of camel allows Arabian nomads to control long distance trade in spices and silk from the Far East.
- Indian goods are brought in Arabian vessels to Aden.
- The "ships of Tarshish", a Tyrian fleet equipped at Ezion Geber, make several trading voyages to the East bringing back gold, silver, ivory and precious stones.
- Tiglath-Pileser III attacks Gaza in order to control trade along the Incense Route.
- The Greek Ptolemaic dynasty exploits trading opportunities with India prior to the Roman involvement.
- The cargo from the India and Egypt trade is shipped to Aden.
- The goods from the East African trade are landed at one of the three main Roman ports, Arsinoe, Berenice or Myos Hormos.
- Myos Hormos and Berencie (rose to prominence during the 1st century BCE) appear to have been important ancient trading ports.
- Gerrha controls the Incense trade routes across Arabia to the Mediterranean and exercises control over the trading of aromatics to Babylon in the 1st century BC. Additionally, it served as a port of entry for goods shipped from India to the East.
- Pre-Islamic Meccans use the old Incense Route to benefit from the heavy Roman demand for luxury goods.
- In Java and Borneo, the introduction of Indian culture creates a demand for aromatics. These trading outposts later serve the Chinese and Arab markets.
- Following the demise of the incense trade Yemen takes to the export of coffee via the Red Sea port of al-Mocha.
Middle Ages
- Indian exports of spices find mention in the works of Ibn Khurdadhbeh (850), al-Ghafiqi (1150), Ishak bin Imaran (907) and Al Kalkashandi (fourteenth century).
- The Hanseatic League secures trading privileges and market rights in England for goods from the League's trading cities in 1157.
Modern
Early modern
- Due the Turkish hold on the Levant during the second half of the fifteenth century the traditional Spice Route shifts from the Persian Gulf to the Red Sea.
- Portuguese diplomat Pero da Covilha (1460 – after 1526) undertakes a mission to explore the trade routes of the Near East and the adjoining regions of Asia and Africa. The exploration commenced from Santarem (1487) to Barcelona, Naples, Alexandria, Cairo and ultimately to India.
- Portuguese explorer and adventurer Vasco da Gama is credited with establishing another sea route from Europe to India.
- In the 1530s, the Portuguese ship spices to Hormuz.
- Japan introduced a system of foreign trade licenses to prevent smuggling and piracy in 1592.
- The first Dutch expedition left from Amsterdam (April 1595) for South East Asia.
- A Dutch convoy sailed in 1598 and returned one year later with 600, 000 pounds of spices and other East Indian products.
- The first English outpost in the East Indies is established in Sumatra in 1685.
- The seventeenth century saw military disturbances around the Ottawa river trade route. During the late eighteenth century, the French built military forts at strategic locations along the main trade routes of Canada. These forts checked the British advances, served as trading posts which included the Native Americans in fur trade and acted as communications posts.
- In 1799, The Dutch East India company, formerly the world's largest company goes bankrupt, partly due to the rise of competitive free trade.
Later modern
- Japan is served by the Portuguese from Macao and later by the Dutch.
- By 1815, the first shipment of nutmegs from Sumatra had arrives in Europe.
- Grenada becomes involved in Spice Trade.
- Opium War (1840)- Britain invades China to overturn the Chinese bar on opium imports.
- Despite the late entry of America in the spice trade merchants from Salem, Massachusetts trade profitably with Sumatra during the early half of the nineteenth century.
- The Japanese Meiji Restoration (1868)leads the way to Japan opening its borders and quickly industrializing through free trade. Under bilateral treaties restraint of trade imports to Japan were forbidden.
- In 1873, the Wiener Börse slump signals the start of the continental Long Depression, during which support for protectionism grows.
Post war
- In 1946. the Bretton Woods system goes into effect; it had been planned since 1944 as an international economic structure to prevent further depressions and wars. It included institutions and rules intended to prevent national trade barriers being erected, as the lack of free trade was considered by many to have been a principal cause of war.
- The Zangger Committee is formed in 1971 to advise on the interpretation of nuclear goods in relation to international trade and the Nuclear Non-Proliferation Treaty (NPT).
- October 16, 1973: OPEC raises the Saudi light crude export price, and mandate an export cut the next day, plus an Embargo on oil exports to nations allied with Israel in the course of the Yom Kippur War.
- The Nuclear Suppliers Group (NSG) was created in 1974 to moderate international trade in nuclear related goods, after the explosion of a nuclear device by a non-nuclear weapon State.
See also
External links
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- says free trade has brought wealth to countries engaging in it for 500 years.
- from 425 BC (Chinese silk trade with Greece by sea.) to 1700
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- : a dictionary of trade in Britain, 1550-1820. Part of British History Online, by permission of the University of Wolverhampton.
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