INSEAD Library

Includes bibliographical references and index

Digitized

Power and Plenty Trade, War, and the World Economy in the Second Millennium Contents ACKNOWLEDGMENTS PREFACE xiii xvi 1 Introduction: Geographical and Historical Background Western Europe Eastern Europe North Africa and Southwest Asia: The Islamic World Central (or Inner) Asia South Asia Southeast Asia East Asia (China, Korea, and Japan) 1 4 11 15 24 29 33 37 2 The World Economy at the Turn of the First Millennium The Golden Age of Islam China: The Sung Economic Miracle The Indian Ocean and Southeast Asian Trade The Pirenne Thesis Eastern Europe: The Viking Connection The Economy of Western Europe 43 48 61 67 71 73 80 3 World Trade 1000-1500: The Economic Consequences of Genghis Khan Trade and War in the Mediterranean and the Black Sea, 1000-1350 The Indian Ocean and the South China Sea, 1000-1350 The Pax Mongolica and Overland Trade, 1000-1350 Eurasia on the Eve of the Black Death The Black Death Trade between Western and Eastern Europe, 1350-1500 Overland Trade, 1350-1500: The Aftermath of the Pax Mongolica The Emergence of Russia The Middle East, the Mediterranean, and International Trade, 1350-1500 Southeast Asia and China, 1350-1500 Quantifying the Late Medieval Spice Trade 87 88 98 101 109 111 120 124 126 127 133 140 4 World Trade 1500-1650: Old World Trade and New World Silver Portugal, the Atlantic, and the Indian Ocean Spain, Portugal, and the New World The Pacific and East Asia The Dutch Rise to Primacy in World Trade Russia, Sweden, and the Baltic, 1500-1650 Southeast Asia during the Age of Commerce The Cape Route, Venice, and the Middle East Silver, Silk, and Spices 143 145 158 167 175 187 194 204 212 5 World Trade 1650-1780: The Age of Mercantilism Origins of the British Empire: Trade, Plunder, and Settlement Mercantilism, Commercial Rivalry, and the Anglo-Dutch Wars Britain, France, and the Dutch Republic Britain and France: Commercial Expansion and the Second Hundred Years' War India: The Disintegration of the Mughal Empire and the Transition to Colonial Rule Southeast Asia and the End of the Age of Commerce The Manchu Empire China's Overseas Trade Chinese and Russian Overland Trade Conclusion 227 229 238 245 247 262 275 284 286 295 304 6 Trade and the Industrial Revolution Trade during the Industrial Revolution Trade, Overseas Expansion, and the Industrial Revolution Why Britain? Why Europe and Not Asia? Conclusion 311 324 330 346 364 7 World Trade 1780-1914: The Great Specialization War and Revolution The Revolutionary and Napoleonic Wars: Short-Run Implications The Revolutionary and Napoleonic Wars: Long-Run Implications The Industrial Revolution and Transportation Technology Bulk Commodities and Heckscher-Ohlin Effects Nineteenth-Century Imperialism Nineteenth-Century Trade Policy Commodity Market Integration, 1815-1914 Complementary Factor Flows and the Great Frontier Trade and the Global Division of Labor Trade, Tropical Frontiers, and the Great Divergence The Terms of Trade Conclusion 365 366 369 371 378 383 387 395 402 407 411 414 424 425 8 World Trade 1914-39: Deglobalization World War I The Aftermath of War Interwar Commercial Policy Transport Costs The Volume of World Trade Price Convergence and Divergence The Great Depression, the Collapse of World Trade, and the Developing Countries The Collapse of the Ottoman Empire Conclusion 429 429 435 443 455 458 461 465 469 471 9 Reglobalization: The Late Twentieth Century in Historical Perspective World War II Geopolitical Consequences: Communism, the Cold War, and Decolonization The Gradual Reconstruction of the Atlantic Economy: 1950-70 Policy Divergence: 1945-80 Reglobalization: 1980-2000 International Transport Costs Trends in Openness: Quantities and Prices Unraveling the Great Specialization Openness and Convergence in the Late Twentieth Century Conclusion 473 473 476 489 493 496 501 505 512 515 525 10 Globalization at the Dawn of the Twenty-First Century The Future of Globalization: Economic Challenges The Future of Globalization: Political Challenges BIBLIOGRAPHY INDEX 527 534 539 547 593