Rise of Global Markets and Britain’s Ascendancy

Maritime Exploration

Painting of Shipping off the coast of Amsterdam As you have previously reviewed. Triangular trade, which began in the 17^th century, continued to grow during the 18^th century. This increase in activity led to economic and commercial rivalries between European states. These rivalries took many forms including the growth of piracy where countries actually sponsored pirates in order to upset trade and decrease competition between the countries. The main players in the maritime markets were France, England, Portugal, Spain, and the Dutch.

The competition for global markets led to the Spanish War of Succession which was ultimately completed with the Peace of Utrecht of 1713. In this treaty, Great Britain gained control of Atlantic trade with France being forced to give up Newfoundland, Nova Scotia, and the Hudson Bay to the English. Spain also gave up the West Indies slave trade as well as the right of asiento (the right to collect taxes off of trade) and allowed Great Britain to sell one shipload of goods annually.

Another event that impacted the global markets was the Treaty of Paris of 1763. This treaty ended the Seven Years, or French and Indian War, in North America. By signing this treaty, Great Britain basically pushed France out of North America with the exception of Canada and some small areas in North America. France was able to keep some colonies in the Caribbean, the most important of which was Saint-Dominique, known for its sugar plantations. Both of these treaties created different structures in the Atlantic and Caribbean than what had previously been present. In reality, Portugal, the Netherlands, and Spain were pushed out of the Atlantic global market, leaving only France and Great Britain.

Maritime Rivalries in Asia.

While European countries were fighting to gain control over Atlantic trading rights, competition continued to increase in Asia as well. As early as the 1600’s the Dutch East India Company was in control of the trade in this area and had established control of Indonesia in 1602. They established their headquarters there and by 1619, they had bought land and trading rights from Portugal. The purpose of this was to gain money that they could use to protect themselves from the Spanish, who were trying to take control of the trade in the area. The Dutch hired mercenaries to protect them but both they and Portugal continued to lose influence in Asia.

By 1716, the Mughal Empire was in power and gave trading permission to the English East India Company to trade in the area. The French continued to trade in the area but with the Treaty of Paris of 1763, the French gave up all claims to India leaving Great Britain as the sole victor and the country that could control all the trade in the region.

Economic & Political Consequences of Britain and France’s Rivalry

Throughout European History, England and France had been at odds over power and control of the European continent, both economically and politically. From a political standpoint, the events of the 18^th century set the stage for political control all the way into the 20^th century.

The Seven Years' War, or French and Indian War, was fought because of English and French competition. It can be considered to the be very first world war because it included more than two countries and was fought on 2 continents. Great Britain emerged as the premier European power as a result of the war which actually began in Europe with the War of Austrian Succession. Prussia and Austria were fighting, and their allies, Great Britain and France got involved. This is actually the beginning of the French and Indian War. Fighting occurs in Europe, America, and India with the English winning and the French being forced to sign the Treaty of 1763. In this treaty, Great Britain gets all of Canada and the territory east of the Mississippi River. Spain got Louisiana and France gave up their holdings in India to Great Britain.

Results of Economic and Political Changes

British Empire grew.
French power declined, both at home and abroad.
The British had control of Indian and Atlantic trade.
France was in deep debt but still held Saint Dominique.

Map of Europe After 7 Years War

Question Mark Icon

In your notes, respond to the following questions.

What country emerged as the global leader during this period? What allowed that to happen? What were the results of this?

[CC BY 4.0] UNLESS OTHERWISE NOTED | IMAGES: LICENSED AND USED ACCORDING TO TERMS OF SUBSCRIPTION