The discovery of America caused the appearance of the first worldwide trade market that ferocious global competitors sought to take control of. The globalization ultimately established Europe as the leader commanding huge territories consequently making them discover the path to the “New world” in the U.S resulting in the modern imperialism.

INTRODUCTION

There was no avoidance on Adam Smith’s part to notice the price paid by the native population of the New World, which bore the brunt of an emotional decline in population because of battles of victory, plagues, and the abuse of their labor (Ichijo, 2004). Gains for a limited number, as Adam noted, ran as one with terrible calamities for many others, a proper dialogue about the extensive experience between the New and the Old Worlds; the partialities that Europe got from discovery of America.

New and Old World’s Exchange

The trade gave considerable impacts to the trade in the Old World which bore results to the trade in the New World. The political structures at the time established good trade practices which facilitated the exchange of goods and services such as gold and organic trade of nourishment produces through the facilitation by the Colombian Trade agreement (Houngnikpo, & Decalo, 2013).

Affected Groups

The colonization and exposure of America has widened the business of the significant number of countries which trade with it. These countries include Spain, Portugal, France, and England. Furthermore, without trading with America directly, these countries sent mediums of different nations to trade on their behalf merchandise of trade. For instance, Austrian Flaunders, traded many different products on behalf of Germany (Nunn, & Qian, 2010). The different countries were influenced to trade at the Cape of Good Hope and the East Indies due to the broad market established as the two biggest markets of the time.

Conclusion

The main impact of this discovery has been to increase commercial and business structures to a great and wonderful level that would never have been achieved. It is the purpose of this structure and framework to improve trade preferably by manufacturers and professionals than by the alterations and development of property, land, and business of Cape of Good Hope and East Indies than by the countries (Ichijo, 2004). As a result of the Discovery of America, the trading towns of Europe have transformed into the flourishing manufacturers and transporters of different products of the Americas instead of little sections of the world.

References

Houngnikpo, M. C., &Decalo, S. (2013). Historical dictionary of Benin. Rowman& Littlefield.

Ichijo, A. (2004). Scottish nationalism and the idea of Europe: Concepts of Europe and the

nation (Vol. 14). Psychology Press.

Nunn, N., & Qian, N. (2010). The Columbian exchange: A history of disease, food, and

ideas. Journal of Economic Perspectives, 24(2), 163-88.