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C O U R S E 
A History of the World since 1300
Jeremy Adelman, Princeton University
C O U R S E   L E C T U R E 
Creating 19th Century Global Free Trade
Notes taken on April 9, 2016 by Edward Tanguay
colonies, once marginal outposts of the global system, now emerging into dynamos
receiving migrants
de Tocqueville witnessed and Europeans watched
these colonies began to be the envy of Europe
societies that could be created as freed trade societies that could export agrarian products back to Europe
this is what Britain had and which made her the envy of European rivals
this is what Britain had as a de facto good after their rule was decreased in India
free trade, a new model for stitching the global world together
free trade
this was not compulsory
it was an international division of labor that was voluntary
Britain had created a system of free trade within India itself
with a penetration of railroads into the hinterlands
communication technology breakthroughs
important drivers and shifts
1869 building of the Suez Canal
French engineer Ferdinand de Lesseps called it a triumph of engineering science
allowed European trade to take the short route to India
Britain could increasingly import its cotton from India
cotton production spread across the Ganges plain
tea was produced and important more from India
Lipton tea advertised its tea more
trade between England and India because of the Suez Canal became a bonanza and key in what became known as the Victorian boom
prosperity of the late 19th century not released by these interconnected systems
draining flood plains
allowed for the cheaper production of foodstuffs and other products for European exportation
Britain began not only importing from the colonies, but exporting textiles to Asia
redefined the global division of trade
Britain became a hub for this new system
exporting its manufactured goods through British ports
Britain in fact became more dependent on global trade
Britain's Gross Domestic Product that relied on international trade
1830 about 10%
1900 about 25%
there was a process of increasing interdependence between societies
the inversion of traditional roles
centuries earlier Vasco da Gama had sailed to India in search of spices and high valued goods and all he had to offer were trinkets
now Europeans had manufactured goods to offer in return for primary product imports
growing imbalances behind this free trade
Britain was more and more dependent on imports from the rest of the world
faced increasing competition from other international manufacturing producers, particularly
United States
having gotten rid of mercantilism, they had less means to protect British industrialists in their access to market shares around the world
Britain began to accumulate trade deficits
the amount that they could export lagged behind what they could export
Britain became much more dependent on India itself
it was India with which they had their best trade surplus
this made Britain very reluctant to give up India
they need India to continue to enjoy their centrality in the global economic system