European transatlantic commerce

Definition

European transatlantic commerce refers to the extensive trade network that emerged between Europe, Africa, and the Americas during the Age of Exploration and Colonialism, primarily from the 16th to the 18th centuries. This commerce involved the exchange of goods, people, and ideas across the Atlantic Ocean and was driven by European demand for commodities such as sugar, tobacco, and slaves. The resulting economic interactions not only fueled the growth of European economies but also significantly impacted the social and political landscapes of both Europe and the New World.

5 Must Know Facts For Your Next Test

1. European transatlantic commerce led to significant wealth accumulation for European nations, particularly Spain, Portugal, England, France, and the Netherlands.
2. The trade was heavily influenced by mercantilist policies that aimed to establish colonies as sources of raw materials and markets for finished goods.
3. The exchange included not just commodities but also cultural exchanges that shaped societies on both sides of the Atlantic.
4. The transatlantic slave trade became a crucial aspect of this commerce, with millions of Africans forcibly transported to work on plantations in the Americas.
5. The commerce contributed to the rise of powerful merchant classes in Europe and influenced global economic practices that are still relevant today.

Review Questions

• How did European transatlantic commerce influence economic structures in Europe during its rise?
  • European transatlantic commerce significantly influenced economic structures by creating a new class of wealthy merchants who benefited from overseas trade. This shift contributed to changes in social hierarchies, as these merchants gained power and influence that rivaled traditional nobility. Additionally, the influx of wealth from colonies enabled states to fund wars, expand their territories, and invest in further exploration and trade ventures.
• Discuss the impact of transatlantic commerce on African societies during this period.
  • Transatlantic commerce had a profound impact on African societies, primarily through the devastating effects of the slave trade. Millions of Africans were captured and sold into slavery, leading to significant population declines and social upheaval in many regions. Additionally, some African states became involved in the slave trade as they traded captives for European goods, which altered local economies and power dynamics. The consequences of these interactions have had long-lasting effects on African societies.
• Evaluate how European transatlantic commerce reshaped global interactions by the end of the 18th century.
  • By the end of the 18th century, European transatlantic commerce had fundamentally reshaped global interactions through increased connectivity between continents. The establishment of trade networks facilitated not just economic exchanges but also cultural diffusion, including ideas about democracy and rights that would later influence revolutionary movements. Moreover, this period marked the beginning of a global economy where European powers dominated trade routes and economies across Africa and the Americas, setting the stage for modern globalization.

Related terms

Triangular Trade: A system of trade routes connecting Europe, Africa, and the Americas, where goods and enslaved people were exchanged among the three regions.

Mercantilism: An economic theory that emphasizes the role of government in managing international trade to increase national wealth and power through a favorable balance of trade.

Middle Passage: The brutal sea journey undertaken by enslaved Africans as they were transported to the Americas, part of the larger transatlantic slave trade.