New Imperialism World History
The rise of the New Imperialism corresponds with the Pax Britannica period, which was fro 1815 to 1870. The New World witnessed the American Revolution and the collapse of the Spanish empire between 1810 and 1820.
This was followed by the revolutions in New Spain, New Granada, Peru and Rio de la Plata. All this marked the end of an era for the European empire.
These revolutions affected UK too, wherein it showed the deficiencies in the doctrine of economic competition for wealth, which was a doctrine followed by the British Empire when it was expanding. And, once the Corn Laws were repealed in 1846, the UK made its entry into free trade. The United Kingdom had become the hotbed for industry and it started supplying a major chunk of manufactured consumer goods to countries like Germany, France, Belgium and the United States.
With Pax Britannica, key markets were opened to European commerce, especially the United Kingdom. The European nations started commerce with Turkey, Egypt, Persia, China and Japan.
After the Congress of Vienna established the Concert of Europe continental order in 1815, the British established the Pax Britannica which lasted until the Franco-Prussian War in 1870. The United Kingdom gained the maximum benefits by being the only modern and industrial power in the world. The UK started manufacturing goods efficiently and cheaply and they could sell these goods cheaper than the locally manufactured goods in other countries.
The Pax Britannica started to decline after the Franco-Prussian War as the continental balance started to shift. Territorial issues in continental Europe started to resolve and this in turn led to other countries competing with the UK. Countries like France, Germany and the United Kingdom started to look for ways to challenge the United Kingdom’s dominance, and this set pace for new imperialism.
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