What is the significance of Manila Acapulco galleon trade in the historical development 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 …

What was the effect and significance of the Manila galleon trade in the Philippines?

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 the Philippines benefit from the galleon trade Quora?

Advantages: They discovered the route to Mexico. Prior to the Spanish, the Philippines did not trade with the Americas Manila galleon – Wikipedia. Adam Smith mentioned that the Galleon trade in Manila was significant as it generated a lot of silver.

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What is the effect of the galleon trade in the Philippines?

The galleon trade had a negative effect on economic development in the Philippines, since virtually all Spanish capital was devoted to speculation in Chinese goods. The importance of the trade declined in the late 18th century as other powers began to trade directly with China.

How did the 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.

What is the advantage of Galleon trade?

Advantages: The galleons brought Mexican silver, merchandise, and useful plants to the Philippines as well as other influences from Mexico and Spain. The trade generated revenue needed by the government.

How did the galleon trade ended?

In 1815, galleon trade was phased out after the Spanish king issued an imperial edict to abolish galleon trade due to the impact of independent movements in Latin America and free trade in Britain and America.

What is the contribution of science and technology in the Philippines?

The major contributions of science and technology to Philippine nation-building are linked to its socio-economic progress and its industrialization. Today, the current state of our country is very low in its capacity to produce local goods for domestic needs as well as in international scientific research publications.

What specific government policy in terms of contributing to the development of science and technology in the Philippines?

Answer: The specific government policy that I like the most is REPUBLIC ACT NO. 2067 AN ACT TO PROMOTE SCIENTIFIC, ENGINEERING AND TECHNOLOGICAL RESEARCH, INVENTION AND DEVELOPMENT Because, this policy encourages our scientist for innovation in technological advancement for the purpose of the public.

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What are the significant contribution of the Spaniards to the development of science and technology in the Philippines?

The Spanish also contributed to the field of engineering in the islands by constructing government buildings, churches, roads, bridges and forts. Biology is given focus. Contributors to science in the archipelago during the 19th century were botanists, Fr.

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