1. Industrialization and the World Economy
Chapter 26 Part I Pages
Industrialization and the World Economy

2. The Rise of Global Inequality
In 1750 the European standard of living approximated that of the rest of the world.
Industrialization opened the gap between Europe and the rest of the world, with Britain leading.
Third World income per person stagnated before 1945.

3. The Rise of Global Inequality
Two schools of interpretation of resulting income differences:
a) The West used science, technology, and capitalism to create wealth.
b) The West used superior power to steal much of its riches from the rest of the world.

4. The World Market
Britain led the world in manufacturing and, after 1846, as a market for goods from other countries.
Railroads, steam vessels, and the Panama and Suez Canals helped expand trade.

5. The World Market
From the mid-1800s France, Germany, and Britain invested massively abroad.
Countries like the U.S., Canada, Australia, Zew Zealand and Latin America were developed.

6. The Opening of China and Japan
The British and French forced the reluctant Qing Dynasty to open China to their trade (18391860).
Opium was the main import to China from British India

7. The Opening of China and Japan
The United States Navy forced Japan to open its ports to foreign trade (18531858).
Matthew Perry entered Edo Bay (Tokyo) in 1853 and demanded they share their ports

8. Western Penetration of Egypt
Muhammad Ali modernized the Egyptian army and government, hired Europeans, and made Egypt autonomous within the Ottoman Empire (first half of 1800s).
Ali’s encouragement of commercial agriculture turned peasants into tenant farmers.

9. Western Penetration of Egypt
Ali’s grandson, Ismail (r. 18631879) continued modernization.
a) Arabic replaces Turkish as official language.
b) French company built Suez Canal (1869).
c) Cairo got modern boulevards.
d) Large-scale export of cotton.