Between 1640-1660, Great Britain enjoyed the greatest benefits of mercantilism. During this period, the prevailing economic wisdom suggested that the empire's colonies could supply raw materials and resources to the mother country and subsequently be used as export markets for the finished products. The resulting favorable balance of trade was thought to increase national wealth. Great Britain was not alone in this line of thinking. The French, Spanish, and Portuguese competed with the British for colonies; it was thought that no great nation could exist and be self-sufficient without colonial resources. Because of this heavy reliance on its colonies, Great Britain imposed restrictions on how its colonies could spend their money or distribute assets.
between the two locations in the Latin American Spanish colonies and the Philippines. ... What are the Spanish goals for each of the territories? ... "Globalization and Economic Change.
