Economic Imperialism. The United States would not exist today if the British had not been economic imperialists. Their attempts to tax the American colonists prompted the Boston Tea Party and unified forces in the decision to revolt against British rule. However, this case was not a unique one in the seventeenth and eighteenth centuries. The prevailing philosophy of world powers at that time was that political strength was dependent on access to world economic resources and to add to the inventory of the resources of the mother country.
England, France, Spain, and Portugal are notable examples of countries that pursued and benefitted from the philosophy of economic imperialism. They became the major powers of the sixteenth through eighteenth centuries. Trade with their colonies was important to maintaining wealth and defense at home. Trade led to pursuit of more resources, more trade, and the need to protect their spans of influence. As areas of the world began to fall into one colonial sphere or another, the impetus to exploit the respective colonies for even more resources became critical. By the beginning of the nineteenth century, almost all of Africa, the Americas, the Caribbean, and the Pacific islands were colonized and settled by Europeans to further ensure access to resources by their mother countries. Unfortunately for the Europeans, the colonists began to identify more and more with their new countries and their own economic interests. Colonists throughout the world resented the exploitation of their wealth for the benefit of distant European powers.
The point of this historical review is that countries as disparate today as India, the United States, Peru, the Philippines, India, and South Africa all share a history of having been exploited by a foreign power. To greater or lesser degrees, their peoples remain sensitive to the use of their economic resources by foreigners. Japan limits foreign access to its markets through protective tariffs. The American government makes it impossible for foreigners to own companies in industries critical to defense. Mexico expropriated assets of foreign companies in petroleum and telephones, even though it was unable to staff those industries with competent nationals at the time. International businesses must be aware of the history of foreign exploitation in many countries, and alert to the unfortunate possibility that their current investments may be viewed as exploitive—in spite of contributions made to local development. Mining, farming, and other industries that physically remove natural resources from one country for use in another, have been particularly susceptible to these suspicions in the twentieth century.
1) How long is the history of international trade?
2) What goals has international trade pursued throughout world history?
3) What is the essence of the philosophy of economic imperialism that prevailed in the seventeenth and eighteenth centuries?
4) Why should international businesses be aware of the history of foreign exploitation?
Vocabulary Practice
1. Practice saying these words:
Aztec , -s; Mayo ,-s; Mongol, -s , Inexorably , susceptible , disparate
2. Make sure you know the Russian equivalents for the following words:
precursor – предшественник, предвестник
inexorably – неумолимо
pursuit – погоня; преследование
resent – возмущаться, негодовать
susceptible – восприимчивый
disparate – в корне отличный, несопоставимый
3. Read the text again and complete the following sentences, using your own words as much as possible.
1) ... predominant aspect of world history
2) … to expand empires without war
3) … to dissuade Cortes from coming to Tenochitlan (Mexico City)
4) … to meet various goals throughout world history.
5) The economic role is linked to…
6) It lowers prices, and that in turn ,,,
7) The essence of international trade is …
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