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This article sketches the beginnings and central trends in the development of economic ties between Europe and regions outside Europe from to The focus is on the increasing diversity and volume of goods exchanged, and the reciprocal enrichment of material cultures between the continents. In this way, the article creates a vivid picture of the emergence of the global market and the beginnings of global competition. It also seeks to identify the central driving forces behind the successive periods of intensification of trade and interaction from the late Middle Ages to the modern period.
Finally, this study describes the increasing interconnection of the economic regions of the Orient and the Occident, as well as the interdependence of the two. Trade played a more central role in the mercantilist period of European history from to — sometimes referred to as early capitalism or trade capitalism — than in almost any other period.
Where are the origins of what one could describe as on-going exchange, as established economic relations to be found? These questions refer to an even larger global context because the global economic edifice changed fundamentally from "proto-globalization" to globalization. From the 16th century to , trade within Europe at all times constituted the most significant portion of global trade, and the volume of that trade grew disproportionately quickly during the early modern period and into the modern period.
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The transition from individual production to mass production and the convergence of prices of goods and materials made transactions considerably easier, thereby accelerating integration. Starting in the late Middle Ages at the latest and continuing at least into the 19th century, Europe dominated most developments in international trade.
From the end of the 19th century, North America began to exert a stronger influence on the global economy. In the early part of the last millennium, population movement and the cultivation of new territories increased as a result of the crusades and the eastward expansion of the German-speaking population.
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