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.
<u>Answer</u>:
The free enterprise system encouraged the American economic growth in the 1800's by gaining wealth.
<u>Explanation</u>:
The Free Enterprise system led to the rise of industries. The United States government took a different approach to regulate its business. This approach was called free enterprise. This also eventually led to technological innovations.
The main motto of this system was "Let people do as they choose". Supporters of free enterprise system believed that the government rather than interfering in the economy, should protect their private property rights and maintain peace.
The British largely permitted this as it was capable of bringing wealth in the country and their North American colonies would develop. Thus, large amount of availability of labor, natural resources like coal, iron and the government policies help the rise of industries during late 1800s.
It led to disagreements between Arab and Jews over control of the Holy Land
Answer:
The granges influence weakened
Explanation:
After the fact of the failing grange the farmer's alliance came to be
Means memory or heritage from a certain past