Why is the "new imperialism" called the first era of globalization? PLEASE HELP!
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because international trade increased enormously at the time. economic growth for the countries in europe and north america reached new hights. and also because it took the form of direct government policy aimed at increasing the power and wealth of nations.
The "new imperialism" is often referred to as the first era of globalization because it coincided with a significant increase in global interconnectedness during the late 19th and early 20th centuries. Here's an explanation of why it is called the first era of globalization:
1. Expansion of International Trade: The new imperialism involved European powers acquiring colonies in Africa, Asia, and the Americas to secure markets for their goods and access to natural resources. This expansion led to a dramatic increase in international trade as goods were exchanged on a global scale.
2. Transportation and Communication Advances: The era saw the development of faster and more efficient transportation systems, such as steamships and railways. These advancements made it easier to transport goods, people, and information across vast distances, further facilitating global trade and communication.
3. Development of Global Financial Networks: As European powers expanded their empires, they also established extensive financial networks that connected different regions of the world. This included the establishment of banks, stock markets, and international financial institutions, which fostered the integration of global economies.
4. Cultural Exchange and Technological Diffusion: The new imperialism led to the spread of European culture, ideas, and technology to the colonized regions. This cultural exchange and technological diffusion further connected different societies and contributed to the process of globalization.
To summarize, the new imperialism is known as the first era of globalization because it involved the expansion of international trade, advancements in transportation and communication, the development of global financial networks, and the spread of cultural exchange and technological diffusion. These factors led to increased interconnectedness and integration of economies, marking the beginning of a globalized world.