EXPLORATION IN AFRICA, ASIA, AND AMERICA

Portugal and Spain

Prince Henry the Navigator(Portugal) sent explorers East

Portugal starts slave trade in AfricaFerdinand and Isabella (Spain) sent explorers

WestPope’s involvement

• Portugal led the way• Original exploration for gold• After discovery of New World – slaves• European powers started colonizing Africa• Dutch (The Netherlands) settled in South

Africa – Known as Boers believed they were chosen and could do with others whatever

they wanted – led to black/white separation

in South Africa

Exploration in Asia• Portugeuse built trading empire through

outposts• Dutch eventually started trading• Dutch East India Company – 1602– Could build armies, wage war, govern, tax, etc.

China/Japan/Korea

• Chinese Empires (Ming/Manchu/Qing)• Restricted foreign trade

• Korea– Killed or Captured European traders– (“Hermit” Kingdom)

• Japan– Isolated itself from 17th century

onwards

North America• European Powers split up North America

– France – Canada– England – 13 colonies

– Spain – Mexico/Texas/Florida/California• Slave Trade expands

Commercial Revolution

• Prices rose – created inflation• Capitalism – privately-owned businesses• Entrepreneurs – individuals taking risks for a

company• Mercantilism – Export more than import

Mercantilism

Theory of Mercantilism• A country should try to get and keep as much

bullion, or gold and silver, as possible.• To achieve this, a country’s balance of trade,

or the difference between imports and exports, should show more exports than imports.