Ep 7. 1571: Spain, Portugal Encircle the Globe

In this episode of An Economic History of the World Since 1400, we explore the year 1571 and the global impact of Spain and Portugal's exploration and expansion. The episode starts with an overview of the two nations' trading networks and how their utilization of new technology such as shipbuilding and navigation tools allowed them to expand their reach throughout the world.

We then delve into how Portugal, under the leadership of King Manuel I, established a stronghold in the Indian Ocean with the construction of the fort of Sofala in modern-day Mozambique. The Portuguese were able to acquire valuable spices and other goods from the East, such as silk and porcelain, and trade them in Europe for high profits. Meanwhile, Spain focused its efforts on conquering the Americas and acquiring precious metals, particularly gold and silver.

The episode examines how the Spanish Empire used their newfound wealth to fund their ambitions both at home and abroad, including the construction of impressive buildings like the Escorial Palace and the exploration of the Pacific Ocean. This eventually led to the settlement of the Philippines, which served as a valuable trading post between China and Europe.

Throughout the episode, we see how the effects of colonization and the slave trade had lasting impacts on the world's economic systems, particularly in the development of capitalism and the exploitation of resources and labor. It also touches on the ecological devastation caused by European expansion and the introduction of invasive species to new environments.

Overall, this episode highlights the pivotal role that Spain and Portugal played in shaping the global economy and the continued legacy of their colonialism in the modern era. It offers a critical examination of the forces that drove these nations to seek out new territories and resources and the consequences of their actions on both local and global scales.