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Topic:  Egacy Of Colonialism And The Economic Development


 

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Type of paper: Essay
Subject area: Geography
Academic level: College
Style: APA
Size: 38.0 kB
Word count:
732 words/3 pages
Mark awarded:  
Author: Claudia Everett
Date submitted: 2008-11-21 21:28:18
Rating/Votes count:
5.00 / 2
 
 
 
Tags: business, economic, personal, british, development, idea, colonialism, descartes, supreme, statement, earth, discuss, achievements, United States, Study, India, United Nations, American Politics, American Century, Finn, Describe, British East India Company, Great Britain Unify India, accomplishments, E-plus Company, United Nations Trusteeship Council, Osipow
One of the impacts of colonialism is in the development of trade and
commerce between regions and countries that continue to be major factors
in today 's economics . South Asia 's economy remains intimately connected
to that of its colonizers , primarily with that of the United Kingdom 's .
One of the key studies in the development of colonial to modern
economics in the region is that of India (United Nations , 2003 .
The British East India Company was instrumental in expanding and
developing India 's economy at the beginning of the 17th century (Reddaway , 1962 . At the beginning , the Company had little leverage on
the trade since India had little demand for the goods that it brought to
the country but traders made lucrative profits in bringing Indian
products to Europe . The commercial reforms reflected British policies
and administration but also paved the way for the Indian traders and
businesses who became significant in international commerce in the 18th
century . The development of the agrarian economy , which similarly is a
focus of current development objective of India , became the main
industry . The policies integrated to the Indian customs and thus it did
not significantly change the economic structure of the country but it
provided more ground for UK companies to be established in the country (Rothermund , 1993 .
The shift in power developed through the India was effectively colonized
by the crown , but the country 's economy remained closely linked with
that of the UK (United Nations , 2003 . The impact of such a relationship
defied the prevalence of the US and Japan in Asian economics . One of the
main reasons for the scenario is the degree by which social and cultural
influences have been adopted by both countries . Support to UK companies
and enterprises have been attributed to the number of Indian immigrants
in the UK as well as of British citizens in India (Rothermund , 1991 .
According to the assessment of the management firm , McKinsey Company (2004 , the history shared by India and the UK , both good and bad , has
created long-term and successful partnerships that remain to be the
critical factors with either country . The importance of economic systems
and businesses established since the colonization of India is evident in
the degree of confidence given to them in the country 's stock markets
which have traditionally been conservative outside of the information
technology industry (Levine Zervos , 1996 . Warren (1980 ) believes that
countries that have a colonial history have adopted the capitalism that
prevails in most of these countries today because imperialism has crated
the economic and industrial foundations suited to capitalist economies .Rothermund (1993 ) furthermore points out that beyond the business and
economic structures , the influence of colonialism can also be seen in
the standards , practices and market preferences of Indian businesses :
majority of Indian business follow UK standards and prefer exporting to
Europe than to the US , though McKinsey Company (2004 ) qualifies such
conditions maybe because of the China 's domination in US partnerships .
Another indication of the influence of...
 

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