On The Economic Encounter Between Asia And Europe 1500 1800

The history of the economic contacts between Asia and Europe dates back to at least the early years of the Common Era. But it was only after the overcoming of the transport technology barrier to the growth of trade between the two continents following the discovery by the Portuguese at the end of the 15th century of the all-water route to the East Indies that these contacts became regular and quantitatively significant. The Portuguese were joined at the beginning of the 17th century by the Dutch and the English East India companies. The Europeans operated in the Indian Ocean alongside the Indian and other Asian merchants with no special privileges being available to them. The present collection of essays by Professor Om Prakash first deals with the Indian merchants’ participation in the Indian Ocean trade on the eve of the Europeans’ arrival in the Ocean. The subsequent essays include a discussion of the Portuguese involvement in the Euro-Asian and the Indian Ocean trade. Attention is then turned to the trading activities of the Dutch and the English East India companies. The volume also contains essays on textile manufacturing and trade as well as on coinage and wages in India. The concluding essay deals with trade and politics in the province of Bengal.

Economic contact between Asia and Europe dates back to at least the early years of the Common Era, but it was only in the fifteenth-century, when the Portuguese discovered the all-water route to the East Indies, that this contact became regular and significant. This collection deals with the Indian Ocean trade on the eve of the Europeans' arrival, as well as the activities of the Portuguese, Dutch and English East India companies. It also contains essays on textile manufacturing, coinage and wages in India, and Bengali politics.

Published to accompany an exhibition held at the V & A, 23 September - 5 December 2004.

The spectacular rise in world trade following the great discoveries of the closing years of the fifteenth century had important implications for each of the major segments of the newly emerging early modern international economy. As far as Asia was concerned, the commercial operations of the European corporate enterprises as well as private traders in the Indian Ocean region between the sixteenth and the eighteenth centuries had far-reaching consequences for the economies and the polities of the countries of the region. Asian merchants engaged in the Indian Ocean trade interacted with the European intruders into the Ocean in a variety of ways. The twenty-one essays included in this volume are firmly embedded in original archival sources. They deal mainly with issues arising out of the Europeans' commercial presence in the Indian Ocean region and the interaction they had with their Asian counterparts. The volume discusses how over a span of three centuries, the Indian economy was integrated into the world economy as a result of these interactions. The macroeconomic implications of the European encounter for the Indian economy are analysed in detail. Another important area explored at some length is the monetary history of the subcontinent in the early modern period. This collection of essays will be of interest of the historians of India and of the Indian Ocean. It will also have a great deal of appeal for the historians of early modern Asia as well as Europe. Those interested in what is being increasingly described as world history will also find the volume useful.

In the three centuries after the explorer Vasco de Gama first landed in India in 1492, meetings, trade and exchanges of all kinds flourished between the peoples of Europe and Asia. These encounters and the hybrid cultures that developed have left an extraordinary legacy of exquisite works of art and compelling human stories.

Table of contents

When Portuguese explorers first arrived in India, the maritime passage initiated an exchange of goods as well as ideas. European ambassadors, missionaries, soldiers, and scholars who followed produced a body of knowledge that shaped European thought about India. Sanjay Subrahmanyam tracks these changing ideas over the entire early modern period.

Regular commercial contacts between Europe and Asia date back to at least the early years of the Christian era, but the pattern of trade underwent a structural modification following the Portuguese discovery of a route to the East Indies via the Cape of Good Hope. This volume illustrates the consequences of the arrival of large numbers of Europeans in the East. Europeans both participated in, modified and exploited existing trade relationships in the Indian Ocean and the Pacific. The studies reprinted here show how some environments, such as Japan, were hostile, whilst most states welcomed the European commercial contact. The necessity for Europeans to pay for Asian goods using precious metals is emphasised by the inclusion of articles in monetary transfers in Asian trade, a phenomenon which provides a link between economic developments in the Americas and those in Asia from the 16th century onwards.