Answer:
Since the debt crisis, the idea that public credit is the first step aimed at the loss of national sovereignty through an economic intervention has expanded. China Qing and the Ottoman Empire were caught in the vicious circle of debt
It is a very similar story that two of the most powerful empires of the pre-modern era became states that depend on international credit in the industrial age. Qing China and the Ottoman Empire suffered a long period of decline that ended their imperial status by 1840.
Explanation:
The two countries suffered some kind of crisis towards the second half of the century that pushed them towards indebtedness abroad, which would lead to the contracting of debt in international markets in order to cope with their long decline, and with the hope of modernize their industry. Following that debt would lead them to accept, foreign intervention.
During the war, the Turks, without an army with the power to confront the Egyptians, had to request the help of their former enemies, forcing the intervention of Britain and Russia. International aid was not free, and its price was through the Balta Treaty, where Turkey agrees to adopt a free market system, withholding taxes on imports.
The case of the Qing dynasty in China was very similar. By 1820, the empire showed symptoms of clear economic damage. Stuck in an extremely restrictive trading system, through which all international trade demanded through the Cohong guild, China collided with Western interests during the First Opium War. The defeat marked the beginning of a long process of decline.
<span>The Roosevelt Corollary noted that European nations would not be allowed to interfere in the financial affairs of Latin American nations. In 1905, Roosevelt signed an Executive Order that would allow the US to collect on the debts of the Dominican Republic. The Senate felt that this was a usurpation of their authority to collect duties and taxes, and thereby pressed the administration to re-work the agreement, which was then released in 1905 in such form, but failed to receive the 2/3 vote necessary for ratification. After Roosevelt used the doctrine of modus vivendi to collect the duties, an acceptable treaty was drafted and ratified in early 1907.</span>
Answer:
The Mormon Trail is the 1,300-mile (2,100 km) long route from Illinois to Utah that members of The Church of Jesus Christ of Latter-day Saints traveled for 3 months. Today, the Mormon Trail is a part of the United States National Trails System, known as the Mormon Pioneer National Historic Trail.
Explanation:
Because someone can sell more and get more profit if they produce more of it.
