Booklet 2 - Breadth Study: The Changing Nature and Extent of Trade

Question 1

What was the economic policy where a government restricts imports to protect domestic industries?

Answer 1

Protectionism

Usually implemented through tariffs.

Question 2

What is mercantilism?

Answer 2

Old economic philosophy with strict government control over trade

Focused on maximizing exports and minimizing imports.

Question 3

What economic system proposed global trade with less government control?

Answer 3

Free trade

Allowed the growth of other nations as trading partners with Britain.

Question 4

What was the Slave Trade Act (1807)?

Answer 4

Abolished the slave trade between the British empire

Led to policing of waters to hunt down slave trade ships.

Question 5

What did the Slavery Abolition Act (1833) accomplish?

Answer 5

Abolished slavery and the selling of slaves

Required looking for alternatives to ‘free labour’.

Question 6

How did the British approach to trade change in the 19th century?

Answer 6

Adoption of Adam Smith’s principles of free trade

Built global trade and developed Britain’s informal empire.

Question 7

What were the key features of trade in the 18th century?

Answer 7

• High government involvement
• Strict tariffs like the Corn Laws and Navigation Act

Supported mercantile trade within the empire.

Question 8

How did the abolition of the slave trade change British trade patterns?

Answer 8

No longer relied on free trade; had to pay workers a living wage

Stopped Triangular trade and changed payment methods for materials.

Question 9

What is geopolitics?

Answer 9

Politics influenced by geographical factors

Primarily related to the placement of naval bases.

Question 10

What was Adam Smith’s idea of free trade?

Answer 10

Countries needed to be allowed to expand to be trading partners with Britain to make Britain richer

This idea emerged after Britain had oversaturated their own market.

Question 11

What did Adam Smith promote regarding imports and exports?

Answer 11

Promoted the use of imports and exports, keeping certain trades with countries that made it best

Example: French wine.

Question 12

Who supported the Corn Laws and why?

Answer 12

• Landowners
• Industrialists
• The wealthy

They benefitted from high prices of corn instead of imports.

Question 13

Who opposed the Corn Laws and why?

Answer 13

• Workers
• The poor

They couldn’t afford to eat and faced higher prices for corn, leading to less disposable income.

Question 14

What was the impact of the repeal of the Navigation Acts?

Answer 14

• Wider market access
• Increased exports
• Made goods cheaper

Allowed trade with others, opening new trade markets and providing a market for Britain’s industrial goods.

Question 15

Define urbanisation.

Answer 15

Giving a place more housing and infrastructure, turning it into a larger hub for living and business

This process involves significant development and population growth.

Question 16

What are the Corn Laws?

Answer 16

Tariff laws on corn within Britain to protect landowners’ prices and not allow for imports

These laws were designed to maintain high prices for domestic corn.

Question 17

What was the Great Reform Act (1832)?

Answer 17

Redistribution of parliamentary seats and allowed for property-based franchise, somewhat increasing voting population

This act aimed to address representation issues in Parliament.

Question 18

What was the Merchants’ Petition (1820)?

Answer 18

A significant appeal by British merchants to the House of Commons, demanding the adoption of free trade policies and the abolition of protectionist tariffs

This petition highlighted the push for economic reform in Britain.

Question 19

What was the significance of Singapore being an entrepôt?

Answer 19

Originally a port for Britain’s East India Company but grew in significance due to its positioning for trade between Britain and Asia. It was introduced as a free trading port meaning everyone could trade with no tariffs, supporting international commerce

The strategic location of Singapore facilitated international trade and commerce.

Question 20

How and why did the British ‘acquire’ Hong Kong?

Answer 20

After the Opium Wars with the Chinese, the British took Hong Kong, which helped open up a major river way to access the interior of China

The acquisition was part of the broader context of British imperial expansion in Asia.

Question 21

What was the significance of the opening up of Shanghai?

Answer 21

Created a global trading hub that allowed more control over the informal empire and promoted international trade with the East. Increased trade of Chinese goods like tea and porcelain

Shanghai’s opening facilitated greater economic interactions between China and Western powers.

Question 22

How did the acquisition of Singapore and Hong Kong change British trade?

Answer 22

Created free trade ports around the East on key naval routes, allowing ships to stop between Britain and the East and supporting other trading partners with deep-water ports and a place for trading and finance

This transformation built up the areas and changed where international trade occurred and how Britain secured new trade around the globe.

Question 23

Define Geopolitical.

Answer 23

Important in where something is placed geographically

Geopolitical factors often influence trade routes and international relations.

Question 24

What is an Entrepôt?

Answer 24

A base stationed between two significant points for trade or navy

Entrepôts serve as critical nodes in global trade networks.

Question 25

What is the **Straits of Malacca**?

Answer 25

Part of the Straits Settlement including Singapore, part of the British Empire providing a new naval route ## Footnote The Straits of Malacca is one of the most important shipping lanes in the world.

Question 26

Define **Gunboat Diplomacy**.

Answer 26

Threatening with naval power in return for a diplomatic deal ## Footnote This approach was commonly used by imperial powers to enforce their will on weaker nations.

Question 27

What is an **‘Unequal treaty’**?

Answer 27

A series of agreements, largely imposed on Asian and African nations, derived from gunboat diplomacy ## Footnote These treaties often resulted in concessions like forced trade, low tariffs, and territorial cession.

Question 28

What was the **Taiping Rebellion**?

Answer 28

Chinese civil war resulting in around 30 million deaths, partly fueled by unrest towards the Opium Wars and how they were handled with the Qing dynasty ## Footnote British intervention during this conflict allowed Britain to secure its own benefits.

Question 29

What was the main reason for British intervention in **Zanzibar**? + when?

Answer 29

Prevent German influence and protect trade routes - 1890 ## Footnote Zanzibar was in a strategic position for trade routes on the East African Coast and crucial to the Empire.

Question 30

What was the reason for British intervention in **Weihaiwei**?

Answer 30

Wanted a base close to Russia ## Footnote This was to keep an eye on them and act against them in case they decided to attack the British.

Question 31

What was the political claim for British intervention in the **Suez Canal**?

Answer 31

Need to access the rest of the empire ## Footnote There was also fear of French control over trade routes.

Question 32

How was the acquisition of the **Suez Canal** a departure in British trade policy?

Answer 32

First time Britain did not seek exclusive ownership ## Footnote Its co-existence with France showed that Britain valued global trade and access to the Empire over solitary territorial gain.

Question 33

What factor was most important in Britain’s growing commercial prosperity in the **nineteenth century**?

Answer 33

The industrial revolution ## Footnote It allowed for faster trade, expansion of free trade, and the creation of new trading partners, aided by faster ships and trains for transport.

Question 34

Define the **British East Africa Company**.

Answer 34

A commercial association founded to develop African trade ## Footnote It operated in areas controlled by the British Empire.

Question 35

What was the **Great Game**?

Answer 35

Rivalry with Tsarist Russia over dominance in Central Asia ## Footnote This rivalry was to protect British India and mostly occurred through buffer zones and cold war.

Question 36

What is meant by **Informal Empire**?

Answer 36

Countries that traded with Britain but were not part of the empire ## Footnote These countries saw themselves as trading partners benefiting from Britain’s trade and industrialization.

Question 37

Who were the **Rothschilds**?

Answer 37

The richest family in the empire ## Footnote They provided Disraeli the money to buy the Suez shares.

Question 38

Who was **Adam Smith** and what was his contribution to British trade?

Answer 38

Initial economic philosopher who developed the beliefs of free trade to replace mercantilism ## Footnote His ideas laid the groundwork for modern economic theory.

Question 39

What policies did **Lord Liverpool** introduce regarding trade?

Answer 39

Introduced policies like the Corn Laws and the sliding scale for the Corn Laws ## Footnote These policies affected agricultural pricing and trade.

Question 40

What significant action did **Sir Robert Peel** take regarding the Corn Laws?

Answer 40

Repealed the Corn Laws and liberalised tariffs ## Footnote This helped lower living costs and boosted industry, promoting Britain's global economic leadership.

Question 41

What reform did **William Huskisson** introduce?

Answer 41

Reform of the navigation acts, reduced tariffs on key goods such as cotton, wool, silk, iron, and sugar ## Footnote Allowed colonies greater commercial freedom by removing restrictions on trade within the British Empire.

Question 42

What was **Lord Russell's** stance on trade?

Answer 42

Strong advocate for free trade and dismantling mercantilism ## Footnote Helped in repealing the Corn Laws and navigation acts, believing in a traditional laissez-faire system.

Question 43

What did **Sir Stamford Raffles** accomplish in 1819?

Answer 43

Founded Singapore as a free trading port and opened up markets in China ## Footnote Helped break Dutch influence in the East and established Britain as the dominant economic power there.

Question 44

What was **Lord Palmerston's** approach to trade in the East?

Answer 44

Aggressive use of navy to open up trade, notably through the opium wars ## Footnote Enforced free trade principles globally.

Question 45

What was the significance of **Benjamin Disraeli's** purchase of the Suez Canal shares?

Answer 45

Bought shares from Egypt to protect Britain’s 'chanel to the empire' ## Footnote This action was crucial for maintaining British control over trade routes.