5 Steps to a 5 AP World History, 2014-2015 Edition

KEY IDEA

h 161

CHAPTER

17 Hemispheric Exchange

IN THIS CHAPTER

Summary:The period from 1450 to 1750 was one of increased global

exchange. While some regions such as China gradually withdrew from long-

distance trade, the volume of trade in the Indian Ocean increased with the

entry of Europeans into waters that already saw bustling commercial activ-

ity among Indian, Muslim, and African peoples. To the trade of the East-

ern Hemisphere were added vast interchanges between the Eastern and

Western hemispheres across the Atlantic Ocean.

Key Terms

capitalism* factor*

caravel* northwest passage*

Columbian Exchange*

Trading Companies

As European nation-states grew more powerful and involved in colonial expansion, their

governments formed trading companies. The governments of Spain, the Netherlands,

England, and France gave regional monopolies to these companies. Among the two most

prominent companies were the British East India Company, which concentrated on trade

in India and North America, and the Dutch East India Company, which focused on trade

with Indonesia. With the origin of the great trading companies came increased consump-

tion of eastern products such as coffee, tea, and sugar. The growth of trade and commerce

fostered the growth of capitalism, an economic system that is based on the private owner-

ship of property and on investments with the hope of profi t.

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