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Astrakhan and Orenburg were the Russian Empire’s two “official” entrances from Asia in the early modern era. Russia’s “Asia” was conceived broadly as the expanse of Eurasia from the Ottoman Empire to the shores of the Pacific. Russia’s control of the Volga River, culminating in the conquest of Astrakhan on the shores of the Caspian Sea in the 16th century, was intended to open direct access for Russia’s merchants to reach Asia. Throughout the 17th century, trade with the Middle East and Central Asia increased, followed by an important breakthrough in relations with China culminating in the Treaty of Nerchinsk in 1689. In the 18th century, Russia’s Asian trade increased; Astrakhan’s customs fees collected from Asian trade goods surpassed the revenue generated by Russia’s Baltic ports in the first half of the century. A growing trade with the Central Asian Khanates of Bukhara, Khiva, and Khoqand led to the creation of Orenburg as the entry point for overland trade from the steppe in 1753. In theory, the new outpost separated Russia’s “Asia” into separate zones for increased regulation: Astrakhan for goods arriving from the Caspian Sea, imported from Iran and India, and Orenburg for the increasing steppe traffic. This is not to suggest that increased regulation produced better control over Eurasia’s trade networks, but rather to reveal Russia’s significant investment in profiting from Asia’s trade as much as its competitors in Britain or the Netherlands did. While overland Eurasian trade remains plagued by a historiographical assumption of its decline in the 18th century, Astrakhan and Orenburg were vital centers of Eurasian commerce, revealing the robust overland trade that remained outside of West European observation.

Article

The transformation from the open sea policies of the early Qing Dynasty (1644–1911) to the rise of the Guangzhou System was a process that took many years. It began with the capture of Taiwan from the Zheng family regime in 1683 and the opening of multiple Chinese ports to trade in 1684. Over the next four decades, Qing officials experimented with different ways of managing trade, and by about 1700, Guangzhou had emerged as one of the most successful at attracting foreign ships. The practices that were found to be most effective at maintaining control—while at the same time encouraging foreigners to return each year—were gradually incorporated into the city’s commercial policies. By the 1720s, all of the basic features of what came to be called the Guangzhou System were firmly in place. In 1757, the Qing government closed other Chinese ports to foreign trade, which guaranteed that Guangzhou would remain the center of commerce up to the signing of the Treaty of Nanjing in 1842.

Article

Millions of Indians migrated internally within the British Empire during the 19th and 20th centuries. While some migrated as labor migrants, many others did so as merchants and other businesspeople. By the start of World War II, more than 200,000 Indians worked in trade outside of India. These merchants played key roles in the British Empire within India and the larger Indian Ocean economy. Several conditions facilitated and perhaps caused Indian merchant migration within the British Empire. First, precolonial Indian commerce continued and adapted to imperial trade patterns. Second, within India, British rule lowered transaction costs and opened markets. Third, British rule brought preferential access to British colonies outside India, access that was denied to merchants from outside the British Empire. Internal merchant migration within India shows the importance of distinct religious, caste, and linguistic groups, many of which were active before British control. Gujarati-speaking merchant migrants and Parsis were bulwarks of Bombay’s commercial class. Specific merchant communities migrated within trading networks across India as railroads connected the subcontinent. Outside India, merchants—often from these same groups—accompanied British expansion in Asia and Africa. In Burma and Malaya, Chettiars from the south formed banking and trading networks that tied these colonies closer to the Indian economy. Chettiar finance was crucial in the development of industry in both Burma and Malaya. Indian businesspeople dominated commerce in East Africa and played key roles in commerce. Indian businesses in Uganda developed local commercial agriculture and industry, and Indians in South Africa played a large role in commerce before legal restrictions reduced their involvement. Distant colonies in which indentureship was the dominant form of migration experienced a transition from labor to trade, with merchant migration playing a smaller role. These colonies do not fit the pattern of merchant migration seen in India and the larger Indian Ocean economy, but they illustrate the role of Indian tradespeople outside India.

Article

Rudi Matthee

Safavid, Iran, was a modest economic player in West and South Asia in terms of population numbers, productivity, and resources. Yet its strategic location at the crossroads of Asia’s commercial arteries allowed it to punch well above its weight in terms of trade—especially trade in transit. The reign of Shah ‘Abbas I (r. 1587–1629) represents the high-water mark in this development. His forward-looking policies, beginning with his choice of Isfahan as Iran’s new capital and the subsequent resettlement of a large number of Armenians, expanded the ambit of the country’s commerce. Most importantly, he established a viable maritime alternative to the overland trade route by facilitating the maritime connection via the Persian Gulf, with the aim of depriving the Ottomans of revenue. In the process, Iran became more firmly connected to the wider Eurasian market, with commodities like silk and porcelain moving into the center of a hemispheric commercial network. In this, South Asia was clearly the regional “world economy,” manufacturing goods that were coveted by people all over West Asia and beyond, while the inhabitants of Europe, and to a lesser extent of the Ottoman Empire, Central Asia, and Russia, functioned as consumers who were generally forced to pay for their tastes and desires with hard cash.

Article

Since the seminal publication of Kenneth Pomeranz’s The Great Divergence (2000), there has been a continuing upsurge of writings on the possible reasons behind the rise of the West from a “global perspective.” Most of these studies focus on comparisons between Western Europe and China. Yet, in recent years works on India and the great divergence have followed suit, taking up research questions that have not been as prominent since the proliferation of debates on the subcontinent’s pre-colonial potentialities for capitalist development in the 1960s and 1970s. As of now, the paucity of quantitative data complicates endeavors to compare pre-colonial India with Europe and explore the underlying reasons behind the great divergence. Case studies examining the socio-economic history of a number of South Asian regions are still needed in order to conduct systematic comparisons between both advanced and underdeveloped regions of the subcontinent and those of Europe. The existing evidence, however, suggests that some of the "core areas" of 16th- to 18th-century India had more or less comparable levels of agricultural productivity, transport facilities (during the dry season), military capabilities in terms of ground forces (e.g., Mysore and the Marathas), commercial and manufacturing capacities (especially in textile, ship, and metal production), and social mobility of merchants (e.g., in Gujarat). Moreover, Indian rulers and artisans did not shy away from adopting European know-how (e.g., in weapon and ship production) when it redounded to their advantage. On the other hand, South Asia possessed some geo-climatic disadvantages vis-à-vis Western Europe that also impeded investments in infrastructure. India seems to have had a lower degree of consumer demand and lagged behind Western Europe in a number of fields such as mechanical engineering, the level of productive forces, higher education, circulation of useful knowledge, institutional efficiency, upper-class property rights, the nascent bourgeois class consciousness, and inter-communal and proto-national identity formations.

Article

Island Southeast Asia (ISEA) consists of Malaysia, Singapore, Brunei, Indonesia, East Timor, and the Philippines and was the midway point in the vibrant East–West international maritime trade route that stretched from Europe, Middle East, East Africa, and South Asia to its west; and China, Ryukyu, Japan, and Korea to its east. The favored stop was along the Straits of Melaka, a calm haven protected from the force of the northeast and southwest monsoon winds. The stream of traders in the Straits enabled local ports to develop into international port cities, whose inhabitants created mixed communities and cultures: commodities were re-fashioned or re-packaged into hybrid forms to accommodate the distinctive tastes of different groups, while frequent and lengthy sojourns by traders resulted in liaisons that produced mixed offspring and cultures. Enhanced economic opportunities encouraged mobility and establishment of diaspora communities in the littoral. More sinister were the forced mobility through wars and slavery that produced reconstituted ethnic communities and new ethnicities and identities in the early modern period (c. 1400– c. 1830s).

Article

Although the political and military aspects of Japanese imperialism have received ample attention from historians, other dimensions of the country’s expansionist experiment with total war have been left largely untouched. Nevertheless, technologies of “soft” power played a very substantial role; in many ways, they predated and prefigured many of the repressive and militarist hallmarks of Japanese expansionism. Gold standard adoption, for instance, was directly related to Japan’s geopolitical positioning. It was a tool for projecting financial power abroad and establishing enclave economies in the colonies, for example through the creation of gold-exchange standards, the direction of the colonies’ central banks and financial institutions, and so on. Nevertheless, the adoption of the gold standard was not an aim in itself. It was a means to a yet higher end: the very establishment of the yen as a “vehicle currency” comparable to the British pound or, after World War I, the American dollar. For that reason, policymakers in Tokyo fostered distinctly mercantilist ideas about trade and, in particular, the share of Japan’s banking institutions and the Japanese yen in financing international trade and settling international trade transactions. The institution in the vanguard of this project was the Yokohama Specie Bank (hereafter: YSB), a bank with the explicit mandate of insuring trade among regions or countries on different currencies and, by extension, different metals (gold and silver). Soon after its creation in 1879, it was made to team up with the Bank of Japan (hereafter: BOJ) and put in charge of the international aspects of the country’s financial and monetary policy. In that role, 1. It financed the bulk of Japanese imports and exports. 2. It collected specie, part of which was added to the BOJ’s currency reserve. 3. It underwrote Japan’s sovereign loan issues. 4. It represented the BOJ abroad. 5. It even issued currencies in Japan-occupied territories before and during World War II. In view of its controversial role in Japanese imperialism (especially because of point 5), the General Headquarters of the Supreme Commander for the Allied Powers (SCAP) ordered its dismantling in 1946. Its assets were transferred to the newly formed Bank of Tokyo. Although it is still heavily understudied in both Japanese and Western languages, it is key to understanding in the vanguard of Tokyo’s expansionist economic project(s)