Summary 1
During the Industrial Revolution, Britain became one of the most powerful frontiers both politically and economically. According to Ward (p.46), the British expansion into the Asian market saw some countries such as China and India getting affected negatively. During this time, three agricultural produce; opium, tea, and cotton were performing greatly in the market. According to Ward, Britain traded in unfair means, making the best use of the Commutation Act and the challenges India was facing in terms of weak military and famine to reap heavily from the trading. The East Indian Trading Company, which was based in London, for instance, was used as the link between Bengal, India, and Britain for trading purposes.
Summary 2
India and China seemed to be the best source of the product; however, even with the high demand in Britain, they did not gain much from the trade. India for instance, was forced to supplement the tea trade with cotton. From the article, it is evident that Britain participated unfairly in tea, cotton, and opium trade by using the Commutation Act as a way to oppress the Indians and Chinese in the trading during the time between 1780 and 1880.
The Greedy British
In the wake of the Industrial Revolution, Britain was the first to realize the era. Mechanization, for instance, had already started setting foot in major British firms. The improvement in metal work, therefore, meant that Britain became a prospective destination for raw materials for the finishing stage. Silk, a common export from India was exported to Britain in exchange for watches, tins and other finished good for the British manufacturers (Ward, p. 56). The Indian Trading Company that was based in London was convinced that the partnership could have promoted trade between the British and the Asian region. However, the results were negative. Britain made better use of the technological and industrial advancements to ruin the Indian silk market. The woolen, silk and cotton were exported back to India to compete with the locally made products. The Indian companies made losses due to the intense competition.
Apart from the competition, the British offered in India, China also was affected in one way or the other. Due to the Commutation Act, the British took an advantage to overtake the tea industry. With the increase in tea consumption in Britain in the 18th Century, the Chinese saw an opportunity to export their tea to Britain. However, due to the tariffs and taxes that the British imposed on the tea trade, for instance, the British taxed between 90-100% percent custom on tea imports (Ward, p.57). This, in other words, meant that the British were discouraging the Indians and the Chinese from exporting their tea to Britain.
Britain made better use of its military strength and took the advantage of other countries to rule over their market. India was one of the victims of these scenarios. India faced a challenge to its economic and political power when Bengal was hit by a serious famine. Due to lack of basic needs, even for the soldiers, India agreed to trade with Britain even when they were gaining nothing, provided they were able to secure loans (Ward, p.51). The greed of the British can be spotted in this case, therefore, as they did not support their business partners during the crisis. The British took the advantages of India to prosper in tea, opium, and the silk trade.
Work cited
Ward, John R. "The industrial revolution and British imperialism, 1750–1850."The Economic History Review 47.1 (1994): 44-65.
