AP World Theme Four Timeline: ECN

Artificial water ways linking China’s main rivers, big part of China’s economic prosperity and stability prior to European involvement.

Textiles, tea, and porcelain

“pit stops” along major trade routes like the Silk Roads, merchants could rest there which in doing so exchanged culture, goods, and ideas.

Those who buy and sell goods.

Europe’s economic system during feudalism, land was owned by lords and peasants/serfs worked on them.

Luxury Goods: Silk, Porcelain, Gunpowder, Horses, Textiles

“Common Man” Trade: Gold, Ivory, Fruit, Textiles, Pepper, Rice

Horses, Salt, Gold, Slaves

Empire tax system used by the Chinese and the Aztecs, conquered people would have to give goods, crops, or people (Aztec sacrifice) to the government/emperor.

Labor system used in the Inca Empire. People had to work for the state for a certain amount of time each year. This labor was used for public works projects like road construction, agricultural terracing, and mining.

Crops grown for export/sale. Ex: cotton, tobacco, coffee.

Labor contract system where workers would work for a set amount of time than be freed or accepted residence.

Europe traded Africa manufactured goods like textiles →Africa traded enslaved people to European colonies in America → Europe sent their materials/cash crops harvested in the American plantations to Europe (for people and manufactured goods).

economic system/ideology where it was believed there limited amount of wealth in the world and was measured by the supply of a state's gold and silver, thus should try to increase their supply.

process of implementing a new product/production method into the market.

European explorer who was famous for his documented journey to China, this made Europe eager to get involved with the big trade networks (Silk Roads, Indian Ocean).

With Europe developing their Maritime technology (ideas from China and Islamic world) they could travel there and with colonies in the Americas, they had silver currency which China desired as their paper money system had failed due to inflation and counterfeit bills.

Chinese admiral who expanded the economic reach of China through explorations.

Investor-backed companies that sponsored European exploration

Policies discouraging trade and interaction with outside countries. Implemented by the Chinese and Japan in response to European influence and exploitation.

The transition of manufacturing goods by hand to with machines.

The growth of cities.

Eurpoean economic philosopher, famous for “The Wealth of Nations” and support for a laissez-faire economy.

Economic system involving no government regulation.

an economic and political system in which a country's trade and industry are controlled by private owners for profit rather than the government.

When businesses in different countries work together for economic dominance.

Economic and politcal ideology made as an alternative to capitalism, promoted aid for the lower classes.

A political and economic theory that advocates that resources should owned or regulated by the community as a whole

Extreme form of socialism and Marxism, a economic and political ideology that promoted resources being owned by the state and a classless society, often enforced with oppressive polices.

When the new Japanese Empire after 1868, implemented Western-like policies to promote industrialization.

a form of imperialism in which businesses and industrialized states dominate another country's economy.

Series of wars fought between British forces and China that helped drug smugglers. Britain prospered off the trade of Opioids with China but when China banned them due to addiction within population, Britain used violence to regain trade opportunity.

claim by a state to exclusive control over a foreign area or territory economically or politically.

Struggling countries that are weak due to an excessive reliance on one crop and foreign funding

Labor or work that is gained through use of force or threats. Similar to slavery but workers are paid little.

Period of global economic struggle due to extreme stock market crash in the US

US policies in response to the Great Depression, increasing government involvement in the economy.

Policies that monitored the Soviet Union economy through oppressive policies that led to famine.

Policies that transformed China into socialist economy through rapid industrialization and collectivization.

Reduction of government regulations on economic activities like trade, investment, and production. Ex: privatizing state-owned enterprises, deregulating industries, and opening markets to foreign competition. Aims to promote growth, efficiency, and improve society's welfare.

When businesses build their factories in these countries as labor is cheaper there.

a company that has business operations in multiple countries.