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A colonial empire is a state engaging in colonization, possibly establishing or maintaing colonies, infused with some form of coloniality and colonialism. Such states can expand contiguous as well as overseas. Colonial empires may set up colonies as settler colonies. [1]
Though the colonial boundaries sometimes caused internal strife and hardship, some present day leaders benefit from the desirable borders their former colonial overlords drew. For example, Nigeria's inheritance of an outlet to the sea — and the trading opportunities a port affords — gives the nation a distinct economic advantage over its ...
For example, rights to dual citizenship may be generous, [96] or larger immigrant quotas may be extended to former colonies. [citation needed] In some cases, the former European imperial nations continue to foster close political and economic ties with former colonies.
The economic history of Nigeria falls into three periods. They are the: pre-colonial, the colonial and the post-colonial or independence periods. [1] The pre-colonial period covers the longest the part of Nigerian history. The colonial period covers a period of 60 years, 1900-1960 while the independence period dates from October 1, 1960.
A number of modern economic historians have blamed the colonial rule for the state of India's economy, with investment in Indian industries limited since it was a colony. [21] Under British rule, India experienced deindustrialization .
The Latin American economy is an export-based economy consisting of individual countries in the geographical regions of North America, Central America, South America, and the Caribbean. The socioeconomic patterns of what is now called Latin America were set in the colonial era when the region was controlled by the Spanish and Portuguese empires ...
The colonial economies of the world operated under the economic philosophy of mercantilism, a policy by which countries attempted to run a trade surplus, with their own colonies or other countries, to accumulate gold reserves. Colonies were used as suppliers of raw materials and as markets for manufactured goods while being prohibited from ...
Its economy was eventually surpassed by the United States in 1916. [13] The United Kingdom's involvement in the First World War and the Second World War damaged Britain's economic power, and a global wave of decolonisation led to the independence of most British colonies.