Second Wave of Imperialism and Global Economy

Key Points

• Industrialized Imperial powers aimed to colonize the world.
• Main motivation: Acquire raw materials for their factories.
• Colonized regions transformed into export economies.

Impact of Colonization

• Before Colonization:
  • Many regions (Africa, Southeast Asia, Americas) had subsistence farmers.
  • Farmers grew diverse foods for their consumption.
• After Colonization:
  • Economies reorganized around export of cash crops/natural resources.
  • Example: Cotton in Africa, copper/diamonds mining.
  • Focus shifted to one or two cash crops/natural resources.
  • Farmers had to grow only cash crops, e.g., cotton.

Main Causes of Economic Transformation

1. Need for Raw Materials:

   • Imperial powers needed materials for their industrial factories.
   • Example: Cotton in Egypt and India exported to Britain.
     • Britain's cotton supply from the U.S. interrupted by Civil War.
   • Palm oil in West Africa for manufacturing goods and as lubricant.
     • Enslaved labor used for palm oil plantations.
   • Guano extraction for fertilizer in industrial crop operations.

2. Supplying Food to Growing Urban Centers:

   • Industrialization led to urbanization (migration to cities).
   • Cities required more food, hence the shift to cash crop cultivation.
   • Popular foods: Sugar, coffee.
   • Meat demand satisfied by industrial ranching in Argentina and Brazil.

Effects of Economic Developments

1. Purchase of Manufactured Goods:

   • Profits from exports used to buy finished goods.
   • Example: Britain's colonies expanded, aiming to integrate into trade network.
   • Colonies provided markets for manufactured goods.

2. Economic Dependence:

   • Colonial people became economically dependent on their imperial rulers.
   • Reorganization of economies benefited colonizers, not indigenous people.

Conclusion

• Colonies' economic activities were centered around imperial needs, not local welfare.