Eastern Europe and Latin America
As political systems and world powers changed, Eastern Europe's relationship to global trade patterns changed from a stunted economic growth, to a closed involvement, then to a prosperous, but limited, global trade network. Even though subtle changes occurred, Eastern Europe's relationship to global trade patterns from 1750 to the present has remained nearly nonexistent, while the backbone of Latin America basic economy in the 1700's was its part in the Atlantic Slave Trade and Triangular Trade.
Latin America’s trade and economy grew very slowly. Between 1700 and 1800 was the highest import of African slaves. The Triangular/Atlantic slave trade was where African slaves were exported to Latin America, where the raw materials and crops produced would be exported, through Spain, to the world, and finished products would be exported from Europe to Latin America. Early discoveries of gold and silver production created the first basis of its economy and the exports of silver and gold would make up more than 2/3 of Latin America’s economy, trade, and income. Plantations, agriculture, and the crops produced would make up the majority of the rest of Latin America’s exports. Sugar would continue to be a major cash crop and an economic booster for Latin American countries even into present day. Recently, the Latin American region has generally begun to privatize exports, and sold state-controlled companies to private owners.
In the years between 1750 and the 1860’s, serfdom in Russia stunted economic growth and modernization and there was little to no participation in global economy, especially in Russia. There was also no colonial trade because East Europe had no colonies there in the 1750’s. Eastern Europe also had a largely internal commerce, agrarian society and had a lack of participation in Trans- Atlantic Slave Trade. In the 1860’s to 1917 the Austro-Hungarian Empire experienced a short surge in prosperity that was quickly...
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