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Triangular trade. Triangular trade or triangle trade is trade between three ports or regions. Triangular trade usually evolves when a region has export commodities that are not required in the region from which its major imports come. It has been used to offset trade imbalances between different regions.
t. e. A marker on the Long Wharf in Boston serves as a reminder of the active role of Boston in the slave trade, with details about the Middle Passage [1]. The Middle Passage was the stage of the Atlantic slave trade in which millions of enslaved Africans [2] were transported to the Americas as part of the triangular slave trade.
The impossible trinity (also known as the impossible trilemma, the monetary trilemma or the Unholy Trinity) is a concept in international economics and international political economy which states that it is impossible to have all three of the following at the same time: a fixed foreign exchange rate. free capital movement (absence of capital ...
The triangular trade or triangle trade was a system used to connect three areas of the world through trade. [43] Once traded, items and goods were shipped to other parts of the world, making the triangle trade a key to global trade. The Triangle Trade system was run by Europeans, increasing their global power. [43]
The Columbian exchange, also known as the Columbian interchange, was the widespread transfer of plants, animals, and diseases between the New World (the Americas) in the Western Hemisphere, and the Old World (Afro-Eurasia) in the Eastern Hemisphere, in the late 15th and following centuries. It is named after the Italian explorer Christopher ...
International monetary system. An international monetary system is a set of internationally agreed rules, conventions and supporting institutions that facilitate international trade, cross border investment and generally the reallocation of capital between states that have different currencies. [1] It should provide means of payment acceptable ...
Mercantilism. Seaport at sunset, a painting by Claude Lorrain, completed in 1639 at the height of mercantilism. Mercantilism is a nationalist economic policy that is designed to maximize the exports and minimize the imports for an economy. In other words, it seeks to maximize the accumulation of resources within the country and use those ...
The Silk Road[a] was a network of Eurasian trade routes active from the second century BCE until the mid-15th century. [1] Spanning over 6,400 km (4,000 mi), it played a central role in facilitating economic, cultural, political, and religious interactions between the Eastern and Western worlds. [2][3][4] The name "Silk Road" was first coined ...