SPICES Europes Love of Spices Status symbol Flavorful

SPICES

Europe’s Love of Spices � Status symbol � Flavorful, exotic Crusades � Medicinal � Means of exchange ¤ value

Getting Spices � Original source Traded for spices Muslim, Turkish control Sold E. Europeans § Slaves build ME empires ¤

Getting Spices (cont. ) � Eur. Trade shifted hands ↑ trade bt. Eur. /Asia exploration Led to gl. currency, credit, MNCs Gold standard, fiat currency, GN domination Portugal v. Spain Catholic church

Getting Spices (cont. ) Eur. gained control Islam Ceylon No monopoly Colonization Transplant spices

Political Issues & the Spices � Peppercorn Used like cash IPC only spice IGO ¤ Most traded Vietnam v. India � Cinnamon Sri Lanka � Nutmeg Status symbol Colony production � Cloves WTO ruling

Neocolonialism GN v. GS Cash crops � Market volatility Currency speculation Prices unstable Weather, disasters Competition � FTAs � New ¤ producers

Vanilla

Vanilla � Cyclone Enawo hit Madagascar � Global effect � Causes shortage � Prices ↑ Record high >$600/kg $72/lb to $320/lb � All ¤ natural demand

The Spice Trade Recap � Colonization � Global Cash crop reliance � Global monetary system trade system Free trade = competition � MNCs GN control, advantage � Globalization ¤ Human security