Industrialization and the search for markets brought the nation into direct opposition. Except for Britain, all other countries abandoned the interaction trade.

“Although Individual states attempted to isolate themselves from each other through high terrific and import duties, development in international economics mandated the continuing growth and development of an interlacing, worldwide system of manufacturing, trade, and finance.”

The general adoption of the gold standard meant that currencies could be readily exchanged. Invisible exports are shipping, insurance, and interest on money lent or invested, avoiding mounting deficits from the vast imports of raw materials.

There is some effect Africa & Asia drawn into the world economy; Indigenous industries were destroyed, Enormous disruption, Loss of Employment, Loss of indigenous middle-class entrepreneurs, Workers assume the role of the global unskilled working class under the hegemony of Western capitalism.

Earlier Imperialism

AS International rivalries increased, European power moved with greater frequency and determination to control both the government and economy of underdeveloped nations and territories.

The British, French, and German View of an overseas empire

French: – Supported Imperialism as a means of restoring national prestige and honor, lost in the humiliating defeat by the Germans in the Franco-Prussian War of 1870-71.

British: – Looked with Alarm at the accelerating pace of industrialization in German and France and fear losing their existing and potential world markets.

Germans: – Recently unified into a modern nation, viewed overseas empire as a national possession and as a way of entering the “club “of great powers.