What is the so called Manila Acapulco galleon trade?

The so-called Manila Galleon (“Nao de China” or “Nao de Acapulco”) brought porcelain, silk, ivory, spices, and myriad other exotic goods from China to Mexico in exchange for New World silver. (It is estimated that as much as one-third of the silver mined in New Spain and Peru went to the Far East.)

Why was the Manila Acapulco trade called the galleon trade?

The name of the galleon changed to reflect the city that the ship sailed from. The term Manila galleon can also refer to the trade route itself between Acapulco and Manila, which lasted from 1565 to 1815.

What is another name for Galleon trade?

The Spanish government continued trade relations with these countries, and the Manila became the center of commerce in the East. The Spaniards closed the ports of Manila to all countries except Mexico. Thus, the Manila–Acapulco Trade, better known as the “Galleon Trade” was born.

What is the significance of Manila Acapulco galleon trade in the historical developments of economic globalization?

The Outstanding Universal Value of MAGT was summarized as follows: 1) “remarkable significance for linking four continents and two oceans, contributing to the development of trade in Asia, Europe, North and South America; 2) paved the way for the widest possible exchange of material goods, cultural traditions and …

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What does the galleon trade represent?

They were the sole means of communication between Spain and its Philippine colony and served as an economic lifeline for the Spaniards in Manila. During the heyday of the galleon trade, Manila became one of the world’s great ports, serving as a focus for trade between China and Europe.

Where is the galleon trade?

The Manila Galleon Trade Route was an economically powerful system of linking Spain with the commodities of Asia via Mexico. It consisted of two separate routes – westward from Acapulco to Manila and eastward on the return, following two separate belts of trade winds across the Pacific.

What is the importance of galleon trade?

The Manila galleon trade made significant contributions to colonial Spanish culture. It helped to fashion the very society of the Philippines, which relied upon its income, its merchandise, and the services of Chinese, Malay, and other participants.

How did galleon trade affect globalization?

“Globalization started with trade in Asia, in Spanish America,” said Mr. Gordon. He further emphasized that the galleon trade put up the ground for globalization by bringing about economic and cultural exchange, and integration of financial markets between Asia and the Americas.

Why the Spaniards discovered the Philippines?

Spanish colonial motives were not, however, strictly commercial. The Spanish at first viewed the Philippines as a stepping-stone to the riches of the East Indies (Spice Islands), but, even after the Portuguese and Dutch had foreclosed that possibility, the Spanish still maintained their presence in the archipelago.

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What happened during the galleon trade?

The so-called Manila Galleon (“Nao de China” or “Nao de Acapulco”) brought porcelain, silk, ivory, spices, and myriad other exotic goods from China to Mexico in exchange for New World silver. (It is estimated that as much as one-third of the silver mined in New Spain and Peru went to the Far East.)

How many years did Spain colonize the Philippines?

The Spanish colonial period of the Philippines began when explorer Ferdinand Magellan came to the islands in 1521 and claimed it as a colony for the Spanish Empire. The period lasted until the Philippine Revolution in 1898.

What social class developed the consciousness of the Filipino to fight Spain?

The Creoles, despite being regarded by the Peninsulares as inferior to them, had enjoyed various government and church positions, and composed the majority of the government bureaucracy. The sense of national consciousness came from the Creoles, who now regard themselves as “Filipino”.

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