History The Triangular Trade Questions
Mercantilism was an economic theory and practice that dominated European trade and colonial policies during the 16th to 18th centuries. It aimed to increase a nation's wealth and power by maximizing exports and minimizing imports. The concept of mercantilism was closely connected to the Triangular Trade as it provided the economic framework for the trade system. European nations, such as Britain, France, and Portugal, sought to establish colonies in the Americas to secure valuable resources and create captive markets for their manufactured goods. The Triangular Trade involved the exchange of goods between Europe, Africa, and the Americas. European manufactured goods were traded for African slaves, who were then transported to the Americas to work on plantations and mines. The raw materials produced by the enslaved Africans were sent back to Europe, completing the triangular cycle. Mercantilism justified and facilitated this trade system by promoting the accumulation of wealth and resources for the European colonial powers.