What role did colonial trade play in the development of London Essay

What role did colonial trade play in the development of London - Essay Example Britain is known to have colonized some of the world’s biggest economies and nations including America, Australia and most parts of Africa. Out of this, Britain gained total economic and political control over most countries who served as British colonies. By and large, these countries invested heavily into the entire development of Britain – particular London. This essay is thus dedicated to scrutinizing some of the major means by which London’s development was affected: positively and negatively by the colonial trade. How the early profits from the slave trade developed the industrial revolution It has remained common knowledge and taught throughout British schools that â€Å"during the 1800s the Industrial Revolution spread throughout Britain.† ... unskilled slaves were not on regular salary taken by unskilled British, they were also made to work overtime in most of the times that they were called to duty. The second way that the slaves were used by the industries is that they were given rapid training to take up ‘semi-skilled’ tasks. These semi-skilled tasks were not typically bookish but had to do with supervision over unskilled labourers. As discussed earlier, these slaves were not taking normal salary and as such saved the industries a lot of expenditure. Again, the slaves were made to work far beyond normal working hours and thus improved productivity. The improvement in productivity that was recorded in most industries saw London and Britain record major industrial growth. This eventually brought about what came to be known as industrial revolution, which was a major turning point in London’s development. East and West India Company, their business dealings and profits The East and West India Company w ere seen as the backbone of London’s development in the colonial days. Surprisingly, the company still plays very vital role in the economy of London and the world at large. As noted by The East India Company (2011), â€Å"without The Company our world would not be as it is today.† This is not a mere publicity talk when discussion is being made of companies, whose dealings and profits indeed were visible in the transformation of London’s economy and entire development. As a company that received the recognition of the Queen of England through the Royal Charter, much was expected from the company right from the unset. Hopefully and true to expectation, the company’s dealings and general business structure ensured that the company recorded major trade gains and initiations such as the establishment of