After 1813 (when the East India Company’s trade monopoly end
Citations (1)
- The Rise and Fall of the Great Powers whole source · open book
After 1813 (when the East India Company’s trade monopoly ended), imports of cotton fabrics into India rose spectacularly, from 1 million yards (1814) to 51 million (1830) to 995 million (1870), driving out many of the traditional domestic producers in the process. Finally—and this returns us to Ashton’s point about the grinding poverty of “those who increase their numbers without passing through an industrial revolution”—the large rise in the populations of China, India, and other Third World countries probably reduced their general per capita income from one generation to the next.
chapter: The Eclipse of the Non-European World