Economic Causes Of Imperialism - Free Essay Example

Sample details Pages: 3 Words: 854 Downloads: 1 Date added: 2019/04/15 Category Politics Essay Level High school Tags: Imperialism Essay Did you like this example? During the late 19th century to the early 20th century, Western Europe soughed the aim of imperialism, which is known as New Imperialism. But what is Imperialism? Imperialism is when strong nations dominate the weaker ones by political, economic or cultural life. In Europe, the countries’ ambitions focused on Africa, although China and Australia were also partially occupied. Don’t waste time! Our writers will create an original "Economic Causes Of Imperialism" essay for you Create order The main causes for countries to seek expansion of their territories were military and political reasons, humanitarian and religious goals, social Darwinism, Western technology and especially economic motives. The nations that started undergoing an industrial revolution, such as Britain, led to the acceleration of European Imperialism. The industries required large quantities of raw materials and in order to sell the products, they had to expand and create new markets. All of this created an increase in the competition of trade around the world. What Imperial governments and private companies wanted was a high-profit margin, they realized that such profits could be achieved through a greater abundance of raw materials at a cheaper price. Economic expansion demanded cheap labor, trade and natural resources, such as precious metals and land. After the arrival of the industrial revolution, dependent colonies often provided to European factories and markets a steady supply for raw materials in order to manufacture products, such as oil, rubber and manganese for steel. This required that industrial nations had to maintain firm control over the unexplored areas, forced to look somewhere else as their own nations didn’t have enough resources for their country. The special attraction of many countries was that they offered many raw materials needed, which were mainly Africa and Asia, who offered cotton, silk, vegetable oils and the rarer minerals. All these products of the tropics were very welcomed to Europe, although many of them were got by trading without political control. Colonies not only provided cheap raw materials but also new markets where industrialized countries could sell the manufactured goods which were produced at home and could not be sold domestically on the continent. Only by controlling some countries or areas, which meant establishing territories under their direct control, could the commercial economy function to all intents and purposes. The financial profits of the new imperialism were restricted because the new colonies were too impoverished to spend money on European merchandise. By 1910, Britain’s manufacturing capacity reached 14.7%, while the United States had 35.5% and Germany at 14.9%. As some countries became more profitable, they started to become more implicated in imperialism, resulting others to have some difficulties in maintaining a high amount of trade and investment overseas. Businessmen were ambitious for new destinations for selling abroad and pressured the government to secure enslaved markets in Africa. As the European market was limited, some businessmen and government leaders, concluded that overseas markets would solve problems of low prices. Many industrialists wanted to accelerate the process of colonialism securing colonies before they strictly needed them. These thoughts were that markets might be soon become oversupplied and a nation’s economic survival would depend on being able to unload the extra products elsewhere. The augment in trading opportunities also stimulated imperialist greed, European countries sought to open up new trade routes that gave them places to sell their products. However, the chase for new markets speeded up as the continuous production of new goods increased. As well as the competition of trade and other economic factors, the European nations were motivated by competition for power. The United Kingdom and France, both top imperial powers took issue over the control of India and North America and the European powers extended their influence whenever an opportunity presented itself. The weakness of China was exploited by European powers who forced it to sign treaties opening up the country to trade. The prestige of having a great empire was also a key factor in motivating European governments and nations. For a nation to be seen powerful, it needs to have land through the world to have many military bases in those and as people felt pride for their country when it took more land, nationalism developed. In addition, many imperialist empires wanted to establish their empire because it helped them gain influence in the diplomatic field. Sometimes certain nations Sometimes nations are in need of strategic places in other countries, so they establish their control over them. In the past, the British had control over Gibraltar, Malta, Cyprus and Aden, because form strategic point of view, these areas were very important. For example, an American cartoonist in 1888 depicted John Bull, representing England, like the octopus of imperialism grabbing land on every country. In conclusion, I strongly believe that the main reason for conquering lands during the New Imperialism was the greed for economic gain. As Mahatma Gandhi said, â€Å"There is a sufficiency in the world for man’s need but not for a man’s greed†. Even China that had almost everything and didn’t have to pass through Imperialism was pushed by his neighbours and blinded by political and economic power. The others were also fooled, making more money but hurting others such as the Africans, which were exploited.

Social Media Is Changing The Way We Communicate - 1177 Words

According to Amy Jo Martin, ‘‘Social media is changing the way we communicate and the way we are perceived, both positively and negatively. Every time you post a photo or update your status, you are contributing to your own digital footprint and personal brand.† This means social media is responsible for greater communication and made up of a plethora of forums that people use to connect to each other. Social media is used to describe the interaction between groups or individuals in which they produce, share, and sometimes exchange ideas over the internet and in virtual communities. It has gained astounding worldwide growth and popularity which has led to attracting attention from a variety of researchers globally. Although with time all generations have come to embrace the changes social network has brought about, teenagers and young adults are the most fanatic users of these sites. Its purpose is to promote and aid communication. However, this type of technolo gy might be doing more harm than good. It is not only changing how we communicate, but how we interact with each other in daily life. We can enumerate a variety of positive and negative effects of social media. First of all, Social media websites such as facebook is a great way to keep in touch with our family and friends that lived in distances. With instant messaging and even video chat, is the perfect environment to stay connected each other. With the status updates, photos, andShow MoreRelatedSocial Media Is Changing The Way We Communicate1311 Words   |  6 PagesFor many years, social media has been the number one resource teens in today s generation depend on. It has provided an advantage to communicate with family members and it has given many the opportunity to make new friends. However, with the use of social media, teens are becoming antisocial. 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Discussing Impression Formation Essay examples - 1676 Words

Impression formation and stereotypes First impressions are considered very important. It is very common to hear people talk about the importance of giving a good first impression because that very first moment in which people see or meet someone new, shows them the kind of person they are most likely to be. How is personality impressions formed? Do first impressions have a much greater impact on judgements than subsequent impressions? How first impressions are formed has been a subject of interest by many researchers in the area of psychology. Past research in this subject suggests that primacy effects exist in impression formation. Solomon Asch (1946) conducted a study to see how people form impressions. Participants were†¦show more content†¦Asch’s(1946) data is limited and Studies tend to be artificial and lack ecological validity. Contemporary work shows individuals are more dynamic in their use of data. Impression formation has had an influence on memory. 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Advanced Economics of International business - Myassignmenthelp.Com

Question: Discuss about the Advanced Economics of International business. Answer: Introduction International business often requires making crucial decisions regarding where to invest, how to invest and when to invest. The current scenario of the world economy presents an increasing dilemma on whether investment in emerging and developing countries is preferable to investment in advanced economies.(Chakravarty 2016) Advanced economies offer developed markets and have highly developed capital markets with high levels of liquidity, meaningful regulatory bodies, large market capitalization, and high levels of per capita income and are generally considered as safe bets for investment.(NASDAQ, USA 2012). On the other hand, emerging markets also often referred to as developing countries are countries that are growing at a fast pace but have less mature markets. (NASDAQ, USA 2012) Emerging markets offer opportunities for the future but tend to be volatile due to under-development of economic and political structures.(Balliet 2017) The differentiated levels of advancement country could be due to many reasons. (Samuelson and NordHaus 2004)have described four major aspects of development, Human Resources or Human Capital, Natural Resources, Capital Formation, and technological development that determine the level of advancement of a country or whether a country can be called as an advanced country or a developing country. Advanced economies score well on most aspects of development, while emerging or low income could score low on several or all aspects of development.(Samuelson and NordHaus 2004) However, the actual classification of countries as advanced, emerging markets or low income developing countries is by and large based on per capita income and their market structures. Categorization of Economies Based on Level of Development The International Monetary Fund uses the following criteria to classify countries into Advanced, emerging markets and developing economies. These criteria are Income Per Capita or the average individual income b) Diversification of Exports c) the level of integration of the country into the global financial systems.(International Monetary Fund 2017) The World Bank simply classifies economies based on their Gross National Income Per Capita and these classifications are used by the International Monetary Fund to decide whether a country is a advanced economies or emerging market and low income developing countries. There are several methods to calculate the average individual income. However, one of the most common ones is Gross National Income (GNI) per capita. According to World Bank ,GNI per capita is the gross national income, converted to U.S. dollars using the World Bank Atlas method, divided by the midyear population.(The World Bank 2017) In 2016, Low Income Developing Countries were defined as Countries with a Gross National Income Per Capita of $1025 or less, lower middle income countries were those with GNI per capita of $1026 and $4035, upper middle income countries were those with a GNI per capita between $4036 and $12, 475 , and high income countries were countries with GNI per capita of 12, 476 or more. (The World Ba nk 2016) The IMF classifies 39 countries as advanced economies. These countries do not include some countries like Saudi Arabia that have high per capita income but lack diversity in export while some countries which do not necessarily have the highest levels of individual income are classified as advanced economies simply due to their advanced and integrated market structures. For example, Lithuania is included in the list of advanced economies due to its adoption of the Euro. Advanced economies are economies in the stages of post industrialization. (International Monetary Fund 2017) The term emerging markets was first coined by Antoine van Agtmael in late 1980s to refer to the so called third world countries that were relatively poor but offered opportunities to investors as their stock markets were developing.(International Finance Corporation 2017) Since then, the term has been evolved and been loosely used without any formal criterion for definition.(Balliet 2017) However, the International Monetary Fund publishes a list of emerging market and developing economies (including Low Income Developing Countries) that contains all those countries that are not classified as advanced economy countries. According to the World Economic Outlook of 2016, 152 countries were classified as emerging market and developing countries.(International Monetary Fund 2013) The emerging market and developing countries are often referred to as Low Income Developing Countries (LIDCs). Low Income Developing countries are countries that would generally have a low per capita income. However, market structures are also an important characteristic to classify a country as an LIDC According to the International Monetary Fund, LIDCs have structural features complete with limited development and structural transformation, and insufficiently close to external financial linkages to be widely seen as emerging market economies.(International Monetary Fund 2013). According to the World Economic Outlook published by the IMF in 2016, the threshold of income set by the International Monetary Fund for a country to be classified as Low Income Developing Country was $2700.(International Monetary Fund 2017) Bibliography Balliet, Wade (2017). Emerging market complexities. [online]. Last updated 6th January. https://www.worldfinance.com/banking/emerging-market-complexities Chakravarty, Manas (2016). Advanced economies vs emerging markets. [online]. Last updated 26 October. https://www.livemint.com/Opinion/ck1EMSGaPQvksrMeC45QsI/Advanced-economies-vs-emerging-markets.html International Finance Corporation(2017). Establishing 'Emerging Markets' [online]. https://www.ifc.org/wps/wcm/connect/corp_ext_content/ifc_external_corporate_site/about+ifc_new/ifc+history/establishing-emerging-markets International Monetary Fund (2017). Frequently Asked Questions: World Economic Outlook (WEO). [online]. Last updated 10 October. https://www.imf.org/external/pubs/ft/weo/faq.htm#q4b2 International Monetary Fund (2013). Statistical Appendix. [online]. https://www.imf.org/~/media/Websites/IMF/imported-flagship./_statapppdf.ashx NASDAQ, USA (2012). https://www.nasdaq.com/article/what-is-the-difference-between-a-developed-emerging-and-frontier-market-cm140649. [online]. Last updated 11 May. https://www.nasdaq.com/article/what-is-the-difference-between-a-developed-emerging-and-frontier-market-cm140649 Samuelson, Paul A and NORDHAUS, William R. (2004). Economics: Seventeenth Edition. 2002 ed., New Delhi, Tata- McGraw Hill Publishing Company. ISBN0-07-048645-X, The World Bank (2017). GNI per capita, Atlas method (current US$). [online]. Last updated 15 September. https://data.worldbank.org/indicator/NY.GNP.PCAP.CD The World Bank (2016). New country classifications by income level. [online]. Last updated 01 July. https://blogs.worldbank.org/opendata/new-country-classifications-2016