Tuesday, November 28, 2017
legend of east india company
. The British East India Company established a monopoly on opium cultivation in the Indian province of Bengal, where they developed a method of growing opium poppies cheaply and abundantly. Other Western countries also joined in the trade, including the United States, which dealt in Turkish as well as Indian opium.
Britain and other European countries undertook the opium trade because of their chronic trade imbalance with China. There was tremendous demand in Europe for Chinese tea, silks, and porcelain pottery, but there was correspondingly little demand in China for Europe’s manufactured goods and other trade items. Consequently, Europeans had to pay for Chinese products with gold or silver. The opium trade, which created a steady demand among Chinese addicts for opium imported by the West, solved this chronic trade imbalance
......................
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment