The rise and fall of global trade: the Romans to Covid-19 | FT Trade Secrets
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- Опубликовано: 31 июл 2024
- Senior FT trade writer Alan Beattie on the forces behind the surge and collapse of globalisation, from the Roman and Mongol empires to Donald Trump and Covid-19.
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Trump just wants fair trade, not for us to be cheated as we have for many years with a trade imbalance. Trump is being unfairly cast in a bad light in this piece.
Internet and social media will ensure trade will continue like mad!
USA will continue to consume more than they can afford.
It will never give up its ridiculous military budget.
So it will spend its way into poverty.
Don't be alarmed.
That's what happened to the Soviets.
The Soviets did that also?
you think social media drives global trade? what a moron
China is the new Sovjet union.
@@hkonhelgesen China is a economic powerhouse ,Soviets were never a economic powerhouse . Even at its very best it had 1/3 of America's wealth .
China can potentially topple America's economy by 2050's . All empire's rises and falls........it's natural and it has always been that way .
@@sirlordhenrymortimer6620 Chinas economy is a house built on sand. It only has cheap production, nothing else, no innovation only immitation etc. That coupled with the current culture (authoritarian state, communism etc) means that it will not stand the test of time.
50 years from now I reckon it will have changed so drastically from what it is (hopefully peacefully changed, but communism has a history of violence so i doubt it).
A very narrow and simplistic view of history and trade. Picking a choosing only the few points that support the thesis.
Not your best video, FT.
So why don't you make one yourself? I did like the video basic but you should do your own research on the whole world history difficult to put everything into one video
They are selling their view to get the views they want
Don't need the sound effects, they're distracting.
yeah they really are
the sound effects are ok for me if the narrators voice is good
"Donald Trump is not as bad as the Visigoths" 😂
Honestly - Does he think we are retards? Oh wait yes thats what those who hate Trump think he is like - They are pretty retarded to be fair
I know right. Undermined the entire video
@@romainvicta3076 He doesn't think we are retards - but you did act way below your real intelligence level in that post.
More like the vandals after 6th of January lol
"Probably not yet" - well that's encouraging...
- International trade
- Romans
- Mongols
- Bubonic plague -> China distrusts trade, cut off from foreign commerce
- New trade routes e.g. triangular trade in 1750s (limited to things like spices and cotton)
- 1850 ca = industrial rev -> new technologies like steamships, telegraph and railroads
- first golden age of trade -> 1880s to 1914
- second wave of globalisation -> 1990s, financial market is liberalised and China rebuilds a second Silk Road in the West
- 2008 > global financial crisis
- Trump and covid19
- stall of the 2nd globalisation era?
From a cybernetic point of view, globalization leads to excessive interdependence, which is technical voluntarism.
Otto von Bismarck noted that economies that were protected grew at a faster rate than those that engaged in free trade. The author of this piece describes the period after the black death as a dark time for global trade. However this is exactly when a horrible system of feudalism was destroyed and replaced with capitalism. The lives of common people actually increased improved somewhat during this period of time.
Very true, it virtually destroyed the peasant serf system at least in England. Feudalism did continue, but the traders grew increasingly dominant. InEngland London was an immense power in the land.
Yeh those factories in the industrial revolution looked sweet
Didn't Bismarck get rid of internal trade barriers in Germany?
you are mixing the different points.
No mention of the spice or slave trade or triangle trade with Asia??
FT conveniently left out Brexit and rise of Boris Johnson in UK
Not relevant
There is so much to tell.. it is just beginning...
They mentioned populism but not Boris directly
Was there any point or meaning to your asinine comment?
Brexit is more restricted to Europe though.
Very remarkable shift to the material world of trust
Not a single word about India!
How can you be so sure Trump won't get reelected
Let's hope that the younger generation will go out and vote!
Mau if Biden wins, the USA will be effectively occupied by China
They didn't say that anywhere in the video
liberals are in for a 4 year wake up call... again. I hope you enjoy your freedom until then. Thank some one much smarter than your obsession with fake filtered news. Use your own brain and research, stop being so damn lazy on your own opinions!! Kill your TV and unsubscribe to the cable provider.
“The economy, stupid”
4:30 Taiwan is NOT China
Actually, they are!
First line:
en.m.wikipedia.org/wiki/Taiwan
@Omar Locke you don't get it...
www.taiwan.gov.tw/
Read the top left corner, and read some history of Taiwan and China's civil war >.<
They call themselves "China"
is was in 1300s you idiot
"Globalisation is in trouble"
Oh no, that sucks.
Thanks for the content FT. Pls have your vids narrated by a pro
I suppose on a historical basis economics needs some air breathing into it. The wealth of nations revised.
The punishment for civil passivity is the power of the villains‼ ️ (Plato)
During the part on the Black Death, you included an image of a Plague doctor in a long nosed mask. These were used in the Great Plague during the 1600s, not the Black Death of the 1300s.
The black death refers to the 1300's plague, the 1600's outbreak of bubonic plague was called "the great plague" not the black death.
You are correct that the plague mask wasnt used during the black death though.
Source: national geographic plague doctors article found via Google search.
Were are these great videos made ...FT is best
My favorite part in this video is where he talks about BITCOIN.
Goodness me, what would you come up with if we had a lethal pandemic? For sure, we're in difficult times, but they're self-inflicted. This virus is even less deadly than that of 1957/58 and back then we didn't shut down the world.
There is a difference between Globalization and International Trade - and this video uses them interchangeably especially at the begining.
Globalization is also not a perfect or purely positive thing. It can lead to the de-industrialisation of one area so that another (usually an area based around a cheaper workforce) can grow. That can be a good thing with regards to streamlining, but say that to someone who loses their job because they can be replaced by someone on the other side of the world who works for a penny to their £... and I am sure you will get a different answer.
There is also a lot about Donald Trump in this video; simply put Trump is a sympton of the times, not the cause of them. He is a response to the Globalised World, and to Multi National Corporations not caring about the little guy or the local area.
As for China, theres a lot more to say about Communist China than there is to say about Trump... and almost all of it is negative.
...and things play out exactly how they were intended.
Love the content, FT!
Chinese silver demand is one of the most important aspects of global trade during 16th 17th century. Most of the silver demand during that time was coming from China, supplied mostly from South America. This created a lot of profits for the Spanish colonizers, funding wars agains other kingdoms at the time in Europe.
Leaving this out of the discussion is a bit ignorant
And many don't know that rich Chinese traders like Howqua for example who got rich because of holding tea trade monopoly inside the China,invested a lot of money/silver in the USA at the beginning of the USA industrial revolution and basically heleped built USA infrastructure and industry.
WW2/Coal and Steel pact/EEC/EU/BoJo ?
Nowadays technology and the Internet culture make global trade and globalization more resilient this time, this is just a temporary correction in a long-term upward trend.
I tend to agree, far too much panic mongering, Covid 19 is nothing compared to previous crises, there s huge funds prepared to save the economy and huge political desire to stop a depression. There will be problems for a while but things will even out. Change will arise and I suspect people will travel less and it will be more expensive but even that will likely even out eventually.
A nuclear war will end it
Wrong map of Pakistan in the beginning and you totally skipped the centuries long Golden Era of Islam. Biased, a little too biased.
Well done.
Your map misses out all the Celtic tribes
Stopped the video after 1 minutes ,that also suffering with that music and tic tic. Probably a lot of interesting facts was said but consider a good voice and no music would say
Great video! Congrats
Very interesting topic and piece of history covered...
But bad voice/diction/pronunciation clarity...
I'm not a native English speaker but I rarely have trouble understanding documentaries like I had here, unfortunately.
Overall, an amazing vid. The only thing I would disagree on is how soviet keeps being portraited with dictatorship, evilness, and so on. Western countries should have a more objective view of soviet and its related history rather than putting a label of "bad stuff" on it.
Half of Europe was under a Soviet dictatorship in the 1990s. You don't understand Europe's hatred of it
This is an internet + conspiracy history.
not to be that guy. but its funny how trump was named in everything but boris the trump of Europe was casually forgotten in a British owned companies video when he arguably is the first one to bring down a 40+ year trading block. just seems biased but hey atleast you put a sticker on england
ok... the video just ignores the whole Portuguese and Spain trade empire ?? really ??
covid19 coverup,- everyone see the clip everyone is watching,the clip on youtube ,it is going viral ,art reflects the events of today too cool youtube -network-1976 I'm mad as hell and I'm not going to take it anymore, i pray for humanity the world and for Hong Kong may the be free human rights is better than oppression
You just skipped over the byzantines and muslims just like that? And the greeks before the romans. This is just a selected list of convenient propaganda points
What about Bitcoin?
"MADE IN CHINA"
has a whole new meaning now
shite
We will soon find out that it came from USA, USA has more ppl dead from the virus than ppl infected in China
Did I miss the the part on inequality fueling all nationalist anger and the surge in nationalism?
Slavery is presented as an afterthought at minute 4:45. Human beings were just one commodity listed. So inappropriate.
Incomplete historical narrative ! Yet, the connections between what have been disclosed in the report could make since.
还以为又要把COV19锅甩给中国，还好
This video shows that FT has become overpriced and useless.
absolutely ridiculous indeed
oh yes we are...
Feels a bit eurocentric, but good enough of a vid.
My social studies teacher forced me to watch this ;-;
Interesting video but bad sound quality
EIS class here!!
In History Romans were never centre point. Chinese civilisation and Indian Vedic civilisation were largest economy . centre of trade and arts and Europe was third world.
So title should be "The rise and fall of global trade: from the Asian civilisations to coronavirus"
You are wrong
India and China were never relevant globally in the ancient world
Comment sections scare me :(
Yes. The lack of reason from the likes of people calling themselves "rational gentlemen".
1:47 The realm of "Rome" was realm of Rome in the 3rd century but the realm of "China" is realm of China in the 21st century. You guys really should do a better job.
This upcoming recession/ depression, will likely overshadow the 1920s depression. With modern humans completely unprepared for very hard times . Hard times are coming , if you are not prepared, then now is time to prepare. Actually a year ago was the best time . Hard times will be compounded by the urge to get us all back to work along with the upcoming Brexit crash out no deal, Boris Johnson's ' herd immunity program ' we will be the biggest challenge of our lives. Boris Johnson's Brexit Empire madness in the middle of Boris Johnson's ' herd immunity program ' . So get out there and be part of the herd immunity program, your life is only useful as part of the Brexit Empire herd immunity program .
Typical lying middle-class gibberish. You remoaners still haven't forgiven the plebs for voting against you demands. Your pitiful little mind can't cope with the fact you created the conditions through your greed that led to Brexit. Opinion polls showed clearly for several years before the referendum that the British had the lowest brief in the EU and it was tough and go whether remain would win. Your kind are greedy and entitled. Sick.
Working class Brexit voters did suffer and pay the cost of globalisation and immigration... middle class Remain voters do ignore this...
But you won't get the Brexit you voted for... the few workers rights you have left will be taken... along with your food standards, your NHS, and anything else Trump wants...
A very dirty background music
I liked it! Brilliant!
The best thing of this biased video is the mention of President Trump! 2020!
Angry public comment section, beware
What rubbish, completely unfactual, how can you omit the Byzantine empire? To imply that Rome was succeeded by the mongols is laughable.
Thanks for that piece of propeganda.
What a load, of codswallop! Biased bollox!
What is the point of having fleets of ships to impose global trade when the same party whines whenever they get deficits?
May Trump bless trumpself
O level quality work. Rather poor. . On the Mongols. "But like the Romans. Their empire was to rigid to last very long." Romans Empire 1791years. Mongol Empire = 275 years.
Claims no Empire between Rome and Mongols. Surely Byzantium was the economic banking and financial hub for the whole world?
Mongol empire 1206 - 1480 = 275 years. Chagatai vassal state until 1680.
Roman Empire. Senate - 338bc (Roman Italy) - 31bc =307 years. Empire 31bc- 476ad (507 years). Byzantine Empire (Khanate) 330-1453 (1123 years) =Total of 1791 years.
your editor is bad
TRUMP 2020!
Let globalization collapse. The earth needs to get rid of humans fast.
Hahaha um, I'd prefer working a 9-5 job, rather than reducing myself to being a warlord in order to get my next meal...
China
Unfortunately , you do not know what you are talking about.
well that certainly was a steamy pantload of propagandist crap.
Such a flat voice
Who cares?
Awful narration
This is totally wrong. I don't know where to start.
China didn't have a huge trading fleet. They had a huge diplomatic fleet that took gifts everywhere bestowing the benevolence of the great ruler in China.
The Silk Road wasn't "trading knowledge" ; knowledge was acquired and exchanged but
represented 0.00000001% of trade. Why mention it as a commodity ?
This is a very biased ill-informed summary of history.
In China and Japan merchants were considered parasitical and ranked below productive peasants.
China's great fleet was owned by the Emperor, it wasn't like the East India Company.
Maritime merchant trading represented 0.001% of GDP.
To try to equate this with modern global trade is completely wrong.
When China abandoned its fleet there wasn't a massive financial shock,
the end of global trade, very likely nobody noticed .
As usual west just slides past on indian history and trading empire! WoW.
I hear you.
Good video, but would you mind at least trying to mask your blatant anti-Trump bias?
I'm struggling to understand this narrator's words. maybe pick someone without a slight speech impediment.
Are you American?