The Battle Of Trafalgar Between France And Great Britain Essay

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A number of criteria ought to be present for free trade (FT) and economic globalization (EG) to occur. These being the open rules, enforcer, freedom of navigation, and international money. Firstly, there should be rules and regulations that participants should commonly abide. Secondly, there should be actor(s) or dominant power(s) who would police and ensure that the rules of FT and EG are enforced. Thirdly, these also necessitates free and safe navigation. Parties involved need to be assured that their products will arrive to their destination, else, no one would join free trade. Fourthly, international money (e.g. currency) which everyone recognizes for its notable value. The Battle of Trafalgar between France and Great Britain (GB) that resulted to the latter’s domination of the former made it clear to every European states who is the commanding power in Europe. This battle’s significance lies on the fact that it assured GB’s naval supremacy and the beginning of British hegemony (from late 19th century till early 20th century) which was the first example of regional FT. This example is far from exemplary and may not be the most ideal to convince sceptics of FT of its merit but, like any other organization, FT itself got better through time. To begin with, the adoption of the gold standards in 1844 by GB when its economic power was worldly acknowledged, made it possible for an international currency to be used. It successfully convinced other countries to follow the
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