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There was relatively free trade within the Empire, though the Imperial Preference was not as comprehensive as some preference systems such as the German Zollverein. The British Empire became the world's largest economy by nominal GDP in 1870 [ 6 ] [ 10 ] and was responsible for approximately a quarter of global trade at that time, [ 10 ] with ...
The British Empire (red) and Mongol Empire (blue) were the largest and second-largest empires in history, respectively. The precise extent of either empire at its greatest territorial expansion is a matter of debate among scholars.
Map of the world showing the extent of the British Empire in 1886. Between 1815 and 1914, a period referred to as Britain's "imperial century" by some historians, [113] around 10 million sq mi (26 million km 2) of territory and roughly 400 million people were added to the British Empire. [114]
It pursued trade concessions in China and Japan, and territory in Southeast Asia. The "Great Game" and "Scramble for Africa" also ensued. The period of relative peace (1815–1914) during which the British Empire became the global hegemon was later described as Pax Britannica (Latin for "British Peace").
The bulk of British emigration, trade, and capital went to areas outside the formal British Empire. Key to their thinking is the idea of empire 'informally if possible and formally if necessary.'" [ 83 ] Oron Hale says that Gallagher and Robinson looked at the British involvement in Africa where they, "found few capitalists, less capital, and ...
Commonwealth free trade is the process or proposal of removing barriers of trade between member states of the Commonwealth of Nations. [1] The preferential trade regime within the British Empire continued in some form amongst Commonwealth nations under the Imperial Preference system, until that system was dismantled after World War II due to changes in geopolitics and the pattern of global ...
"The Imperialism of Free Trade" is an academic article by John Gallagher and Ronald Robinson first published in The Economic History Review in 1953. It argued that the New Imperialism could be best characterised as a continuation of a longer-term policy begun in the 1850s in which informal empire, based on the principles of free trade, was favoured over formal imperial control unless ...
In the early 1830s, Martin took it upon himself to write and stress on the importance and value of the British colonies to the public. [5] In 1834, the published the book History of the British Colonies in 5 volumes. While the book was well received, Martin was faced with a complaint that it was expensive.