Mention two economic change in the early 19th century Europe
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, Germany became the new leader in European industry. Germany far exceeded the production of any other European nation in chemicals and electrical equipment. The nation continued to expand its trade networks and soon enjoyed a flood of new plants and factories. Great Britain tried to retake its position as industrial leader, but Germany would not give up its newly acquired title so easily. The United States also enjoyed success during the Second Industrial Revolution. In fact, industry had made the U.S. the richest nation in the world at this time.
The Second Industrial Revolution caused growth in industry and transportation, which allowed increased trade between nations. Combined with a merchant marine capable of transporting goods by sea, a world economy began to form. What exactly is a world economy? Well, a world economy, or global economy, is simply a description of the integration of trade in goods, services, and money worldwide. The spread of trade and investments abroad is linked with a process called imperialism.
The age of discovery, seen from the European point of view, introduced major economic changes. The Columbian exchange resulted in Europe adopting new crops, as well as shaking up traditional cultural ideas and practices. The commercial revolution continued, with Europeans developing mercantilism and European imports of luxury goods (notably spices and fine cloth) from eastern and southern Asia switching from crossing Islamic territory in the present-day Middle East to passing the Cape of Good Hope. Spain proved adept at plundering the gold and silver of the Americas, but incompetent at converting its new wealth into a vibrant domestic economy, and declined as an economic power. The centres of commerce and manufactures shifted definitively from the Mediterranean to the centres of shipping and colonisation on the western Atlantic coastal fringe: economic activity went into a relative decline in the Italian peninsula and in the Ottoman Empire - but to the advantage of Portugal, Spain, France, the Dutch Republic and England/Britain. In eastern Europe, Russia suppressed the Tatar slave-trade, expanded commerce in luxury furs from Siberia and rivalled the Scandinavian and German states in the Baltic. "Colonial goods" like sugar and tobacco from the Americas came to play a role in the European economy. Meanwhile, changes in financial practice (especially in the Netherlands and in England), the second agricultural revolution in Britain and technological innovations in France, Prussia and England not only promoted economic changes and expansion in themselves, but also fostered the beginnings of the industrial revolution.The Industrial Revolution brought factories to Europe, especially England and Scotland, 1750s to 1830s. France and the U.S. experienced its industrial revolution in the early 19th century; Germany in the 19th century; and to Russia in the early-mid 20th century.In Britain, the Industrial Revolution was a period of economic transformation from the 1750s to the 1830s, characterized by the growth of a new system comprising factories, railroads, coal mining and business enterprises using new technologies that it sponsored. The new system operated first on textiles, then spread to other sectors and by the mid 19th century totally transformed the British economy and society, setting up sustained growth; it spread to parts of America and Europe and modernized the world economy. Although localized to certain parts of Britain (the London area was not included), its impact was felt worldwide on migration and trade, society and politics, on cities and countryside, and affected the remotest areas. The growth rate in the British GDP was 1.5% per year (1770–1815), doubling to 3.0% (1815–1831).Success in building larger, more efficient steam engines after 1790 meant that the cost of energy fell steadily. Entrepreneurs found uses for stationary engines in turning the machines in a factory or the pumps at a mine, while mobile engines were put into locomotives and ships (where they turned paddles or, later, propellers). The use of water power was growing too, so that in 1830 steam mills and water mills were about equal (at 165,000 horsepower each); by 1879 Britain obtained 2.1 million horsepower from steam engines, and 230,000 from water.No one expected that Belgium-seemingly a "sluggish" and "culturally dormant" bastion of traditionalism-would leap– to the forefront of the industrial revolution on the Continent. Nevertheless, Belgium was the second country, after Britain, in which the industrial revolution took place and it set the pace for all of continental Europe, while leaving the Netherlands behind.Industrialization took place in Wallonia (French-speaking southern Belgium), starting in the middle of the 1820s, and especially after 1830. The availability of cheap coal was a main factor that attracted entrepreneurs. Numerous works comprising coke blast furnaces as well as puddling and rolling mills were built in the coal mining areas around Liège and Charleroi. The leader was a transplanted Englishman John Cockerill. His factories integrated all stages of production, from engineering to the supply of raw materials, as early as 1825. By 1830, when iron became important the Belgium coal industry had long been established, and used steam-engines for pumping.