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Why did the UK lose its lead in industrial development and trade in the later half of the 19th century?
Member rating: No Rating | Words: | Submitted: Mon Dec 22 2003
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`Why did the UK lose its lead in industrial development and trade in the later half of the 19th century? The UK came to world primacy following the industrial revolution. As Dutch supremacy decreased British trade in all world markets increased allowing them to contest in the Far East with Portugal, Spain and Holland. They became the pioneers of colonisation taking control of Australia, New Zealand and the West Indies, adding to the Empire market. British innovations also led the way, there was a patent increase of 2000% between 1766 - 1825 leading to changes such as the building of canals which reached a peak of 'canal mania'(Kindleberger, 96) in 1793 and the Railways boom which led to Britain becoming the 'workshop of the world'(Chambers, 1961) in 1850. Britain's rise to economic primacy had come in part due to exploitation of opportunity and self sufficiency but the change to free...
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