ECONOMIC Imperialism [AP World History] Unit 6 Topic 5 (6.5)

ECONOMIC Imperialism [AP World History] Unit 6 Topic 5 (6.5)

ECONOMIC Imperialism [AP World History] Unit 6 Topic 5 (6.5)

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In this video Heimler walks you through Unit 6 Topic 5 (6.5) of AP World History. And this one is all about Economic Imperialism. As a concept, imperialism is when one country brings another under its political dominion. Economic imperialism is when that happens not politically, but economically.

Britain exercised this kind of imperialism in India by shifting their main export economy to cotton. They also did it in China as a result of the Opium Wars. After China’s defeat in that series of conflicts, other industrial powers wanted in on the boom boom too and so they carved up China into spheres of influence—each power had exclusive trading rights in their particular sphere.

If you have any questions, leave them below and Heimler will answer them forthwithly.


Content

0.11 -> Hi and welcome back to Heimler’s history.
1.3 -> In the last few videos we’ve been talking about AP World History Unit 6.
4.02 -> And we’ve been focusing specifically on the notion of imperialism, which is where
7.72 -> one country brings another country under its own political dominion.
10.73 -> And it’s true that there was an awful lot of that going on from 1750-1900.
14.16 -> However in some cases imperialism turned out to be more of an economic reality than a political
19.13 -> one.
20.13 -> That’s called economic imperialism and that’s what we’re going to talk about in this video.
22.81 -> Let’s get to it.
23.81 -> Alright, so economic imperialism.
24.81 -> Why don’t we begin with a definition.
27.09 -> Economic imperialism is a situation in which one country has significant economic power
30.88 -> over another country.
31.88 -> And for our purposes we’re going to focus on economic imperialism in Asia and Latin
36.07 -> America.
37.07 -> So let’s head on over to Asia and see what’s happening there.
39.2 -> First, India.
40.32 -> Economic imperialism started there with the British East India Company.
43.15 -> They established themselves in India in the early 1600s in order to get a slice of that
46.649 -> lucrative Indian spice trade.
48.25 -> But as I’ve mentioned in other videos, Britain, not being content with the spice boom boom,
52.399 -> started to exert more and more political dominance over the Indian economy.
56.489 -> Specifically, Britain led India into a situation where the majority of their export economy
60.559 -> was made up of cotton because Britain needed that cotton to feed their machines.
64.25 -> Okay, that’s India.
65.25 -> But now let’s turn our attention to China, because in my opinion, China gives us an even
68.6 -> better example of economic imperialism.
70.57 -> So during this period the British demanded huge quantities of porcelain, silk, and tea,
74.7 -> all from China.
75.7 -> And so they imported these goods in mass quantities.
77.63 -> But as it turns out, the British were more interested in Chinese goods than the Chinese
81.28 -> were interested in British goods.
82.45 -> And that led to a deep trade deficit on Britain’s part, and their stores of silver got way too
87.01 -> low for their taste.
88.02 -> And so faced with this situation, Britain did what any rational country would do: they
92.66 -> got their best minds together to innovate and come up with some great products that
97.28 -> the Chinese will love.
98.29 -> And if you really believe what I just said, then clearly this is your first time here
101.31 -> at Heimler’s History, and if so, welcome, but that’s really not what happened.
104.401 -> What really happened is this.
105.401 -> The British East India Company forced Indian farmers to start manufacturing opium, which
109.799 -> in case you don’t know is a highly addictive hallucinogenic drug.
113.409 -> Opium is the great-grandpappy of heroin, just in case that gives you some idea of how addictive
117.73 -> this could be.
118.73 -> Not that anyone watching this knows anything about that…
120.81 -> Kids, don’t do drugs.
122.02 -> Anyway, the British began smuggling metric buttloads of opium into China and selling
125.72 -> it to the Chinese people.
126.74 -> And the more people got addicted, the more opium the British sold.
129.81 -> And, ladies and gentlemen, that’s how you solve a trade deficit.
132.13 -> Now, in 1729 the Chinese emperor made the buying and selling of opium illegal, but too
136.48 -> many people had come to depend on it by then and the ban had little effect.
140.569 -> But after a century of this, the Chinese grew tired of the abusive situation and rose up
144.84 -> against the British in what became known as the Opium Wars.
148.42 -> The first iteration of these conflicts began in 1839, and the main goal was for the Chinese
152.75 -> to oust the British from their midst.
155.25 -> But because the British possessed a superior military, due in large part to the Industrial
159.22 -> Revolution, they won this series of conflicts.
161.27 -> And at the end of the Opium Wars, Britain did not take over China politically, but they
165.44 -> did take over economically.
167.03 -> And they did that by forcing China to open additional ports of trade to Britain and by
171.569 -> requiring a free-trade agreement, which of course included opium.
175.05 -> Now this situation became kind of a cautionary tale for the watching world.
178.56 -> What it showed was that industrialized nations will crush non-industrialized nations every
183.55 -> time.
184.55 -> And so seeing this, later in the 1800s other nations came to China wanting to get their
187.67 -> slice of the free-trade pie too.
189.129 -> But in order to keep from tearing each other apart, they came to an agreement in which
192.38 -> they would slice up China into what’s called spheres of influence.
195.86 -> So Japan, France, Germany, Russia, and the United States all got their slice of the pie,
200.58 -> and in that slice, or in that “sphere”, they had exclusive trading rights.
204.42 -> Okay, so that’s how economic imperialism went down in China, now let’s turn our attention
207.64 -> to Latin America and see how it happened there.
209.75 -> So in the second half of the 19th century there was a big imperial interest in Latin
212.989 -> America, especially from the United States, Britain, and Spain.
215.72 -> And in particular they were seeking raw materials, low wage workers, and markets for their goods.
220.64 -> So I reckon we ought to start with the United States.
222.9 -> America got its big boy imperialistic pants on starting with the Monroe Doctrine in 1823.
227.019 -> Basically this was President James Monroe’s declaration that the lion’s share of the
230.99 -> western hemisphere belonged to the United States and that European intervention over
234.409 -> here was no longer welcome.
236.13 -> And the reason why the great American dog was urinating all over the Central American
239.81 -> and Caribbean mailbox post, was because of the great prosperity and power they gathered
244.05 -> as a result of the Second Industrial Revolution.
246.38 -> Now with all this new wealth, the U.S. invested heavily in the industrialization of places
250.5 -> like Mexico and Cuba.
252.209 -> And the chief object of these investments were railroads and the development of industries
255.569 -> like meat packing, guano extraction, and mining.
258.519 -> And why would the United States do all that?
260.269 -> Well not because they were just generous of heart.
262.259 -> NO, they wanted trading partners.
263.569 -> And as a result of all those investments, they got them.
266.169 -> Now Britain handled Argentina similarly.
268.539 -> They invested huge sums of money into Argentina especially in the development of breeding
272.139 -> livestock, farming, and railroads.
273.74 -> And probably the most significant investment into Argentina was that they helped finance
277.58 -> the building of the Port of Buenos Aires.
279.71 -> And again, why would they do that?
281.11 -> Well not because they saw an economy in need and just wanted to help out.
283.879 -> No, they did it to facilitate the massive import and export of raw materials and manufactured
288.36 -> goods.
289.36 -> Now, more briefly, let’s talk about Spain’s economic imperialism in Chile.
292.27 -> Chile at this time was a colonial holding of Spain, and initially Chile’s economy
295.629 -> was almost entirely dependent on agricultural exports to Spain.
299.259 -> However, once copper was discovered in huge quantities in the Chilean hillside, it became
302.819 -> a big part of Chile’s export economy.
305.099 -> Eventually copper made up a third of all exports from Chile.
308.129 -> And that, ladies and gentlemen is economic imperialism.
310.149 -> Alright, that’s Unit 6 topic 5 of AP World History.
312.819 -> If you need help getting an A in your class and a five on your exam in May, then check
317.548 -> If you want me to keep making videos to help you out, then subscribe and come along.
320.238 -> And finally if you liked this video there’s a little like button down there that will
323.368 -> help you express your pleasure.
324.549 -> Heimler out.

Source: https://www.youtube.com/watch?v=9udb6NCOp1U