Assess the significance of economics and finance in influencing Britain's changing relationship with its African empire in the period c1870-c1981.
Economic and financial concerns have a clear link to Britain’s relationship with her African empire over the period 1870-1980. During different time frames within the period; expansion, colonisation and decolonisation economic and finance hold different amounts of weight due to events which mark turning points in the relationship e.g. World Wars. Strategic and cultural are also clear concerns which effect the relation which I will evaluate.
Trading to make profit was the main reason British business men landed on African soil. This shows economic influences started the relationship between GB and her African empire, highlighting its importance during expansion. Trading in Africa brought high profits back to businessmen and the banks that financed them in England. Men on the spot such as Sir William Mckinnon and Cecil Rhodes are examples of business men financed by the City who traded and became millionaires. McDonough supports my view he says ‘enormous economic potential became the driving force behind expansion’. This suggests that Britain found greater interest in Africa after the realisation of the high profits that would come with trading within the continent for their own economic benefit. However, Alfred’s statistic ‘Africa resulted in 6% of overseas investment commitment’ would go against McDonough’s point suggesting that economic concerns wasn’t the main reason that GB became closer to Africa.
Strategic concerns seem to have held heavier weight during this period. By 1875 competitive rivalry was at its peak. European powers fought for prestige and to protect the power of their empires. 90% of Africa was European owned by 1900. Pakenham supports my view stating ‘the scramble was forced upon Britain by her rivals’. This suggests that Britain was left with no other option but to expand to ensure she upheld her title as the most powerful empire in the world. More importantly, strategically, Africa had become vital to Britain due to the Suez Canal as it
Trading to make profit was the main reason British business men landed on African soil. This shows economic influences started the relationship between GB and her African empire, highlighting its importance during expansion. Trading in Africa brought high profits back to businessmen and the banks that financed them in England. Men on the spot such as Sir William Mckinnon and Cecil Rhodes are examples of business men financed by the City who traded and became millionaires. McDonough supports my view he says ‘enormous economic potential became the driving force behind expansion’. This suggests that Britain found greater interest in Africa after the realisation of the high profits that would come with trading within the continent for their own economic benefit. However, Alfred’s statistic ‘Africa resulted in 6% of overseas investment commitment’ would go against McDonough’s point suggesting that economic concerns wasn’t the main reason that GB became closer to Africa.
Strategic concerns seem to have held heavier weight during this period. By 1875 competitive rivalry was at its peak. European powers fought for prestige and to protect the power of their empires. 90% of Africa was European owned by 1900. Pakenham supports my view stating ‘the scramble was forced upon Britain by her rivals’. This suggests that Britain was left with no other option but to expand to ensure she upheld her title as the most powerful empire in the world. More importantly, strategically, Africa had become vital to Britain due to the Suez Canal as it