The economic philosophy of mercantilism decelerated economic growth, prior to the Industrial Revolution, by adopting prohibitive measures of trade with foreign markets.
Explanation:
Mercantilism is the name given to a set of economic practices developed in Europe in the Modern Age, between the fifteenth century and the end of the eighteenth century. Mercantilism originated a set of diverse economic measures according to the States. It was characterized by a strong state intervention in the economy. It consisted of a series of measures aimed at unifying the internal market and aimed at the formation of strong national states.
The mercantilist economic philosophy led the sovereigns to make concessions to the entrepreneurs. In this sense, they intensified the creation of new manufactures, they defended the national fabrications, thus stipulating rates and measures prohibitive to the free trade of foreign products. They also took care of the favorable trade balance and developed companies focused on colonial exploration.
The only reason why Russia controlled the northern half of Korea was the agreement with America and the former Soviet Union. The Japaneses had control of the entire Korean Peninsula from 1910 to until the demise of the Empire of Japan after it's surrender in World War II in 1945.
