When was galleon trade established in the Philippines?

What is the history of Galleon Trade?

With a record of more than 250 years, the Galleon Trade was the longest running shipping line of its time. Carrying silver, gold, spices, silk and objects that were fashionable between 1565- 1815, it was, as Nick Joaquin noted, “…the first medium to reduce the world to a village”.

How was the Galleon Trade established?

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. … And because the Spaniards were so engrossed in making profits from the Galleon Trade, they hardly had any time to further exploit our natural resources.

What was the effect of galleon trade in our country?

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 ended?

On the return trip, Spanish silver dollars, copper, cocoa and so on were brought back and sold in China. … 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 does galleon trade mean?

A trade carried in Spanish ships, called Manila galleons, that regularly crossed the Pacific between Manila, in the Philippines, and Acapulco, New Spain (now Mexico), carrying luxury goods from East

What era is the galleon trade?

Spanning a 250 year period from 1565-1815, the Manila Galleon Trade is a fascinating period in history which is addressed far too infrequently by textile scholars. The cross-cultural contact resulting from the Spanish conquest of America expanded to include Asia with the start of the trans-Pacific trade in 1565.

How many years did Spain colonize the Philippines?

On June 12, 1898, Emilio Aguinaldo declared the Philippines independent from Spain and proclaimed himself president. After ruling for 333 years, the Spaniards finally left in 1898 and were replaced by the Americans who stayed for 48 years. On July 4, 1946, the Americans recognized Philippine independence.

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