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The balance of trade mostly in favour to Indonesia, with surpluses from the period 2005–2010, in 2009 Indonesia recorded US$1.58 billion surplus and US$1.62 billion surplus in 2010. Spain ranked the 14th place of Indonesia's export partners that buys coal, copper, palm oil, natural rubber, and electronics.
Reception of the Manila galleon by the Chamorro in the Ladrones Islands, Boxer Codex (c. 1590). With the Portuguese guarding access to the Indian Ocean around the Cape, a monopoly supported by papal bulls and the Treaty of Tordesillas, Spanish contact with the Far East waited until the success of the 1519–1522 Magellan–Elcano expedition that found a Southwest Passage around South America ...
In 1997 and 1998, Indonesia was the country hardest hit by the 1997 Asian financial crisis, [143] which had dire consequences for the Indonesian economy and society, as well as Suharto's presidency. At the same time, the country suffered a severe drought and some of the largest forest fires in history burned in Kalimantan and Sumatra.
Before the expansion of early modern European powers, other empires had conquered and colonized territories, such as the Roman Empire in Europe, North Africa and Western Asia. Modern colonial empires first emerged with a race of exploration between the then most advanced European maritime powers, Portugal and Spain, during the 15th century. [2]
The first phase of European colonization of Southeast Asia took place throughout the 16th and 17th centuries. Where new European powers competing to gain monopoly over the spice trade, as this trade was very valuable to the Europeans due to high demand for various spices such as pepper , cinnamon , nutmeg , and cloves .
Extent of colonization by European, American, Ottoman, and Japanese powers, 1492-1991 Map of the year each country achieved independence. The historical phenomenon of colonization is one that stretches around the globe and across time. Ancient and medieval colonialism was practiced by the Phoenicians, Greeks, Romans, Turks, Han Chinese, and Arabs.
Map of Spain in 1960. Present-day Equatorial Guinea and Western Sahara, as well as the Ifni territory , were still part of Spain. In 1959, the Spanish territory on the Gulf of Guinea was established with a status similar to the provinces of metropolitan Spain.
Spain later agreed by treaty to cede the Philippines in Asia and Guam in the Pacific. In the Caribbean, Spain ceded Puerto Rico to the U.S. The war also marked the end of Spanish rule in Cuba, which was to be granted nominal independence but remained heavily influenced by the U.S. government and U.S. business interests.