PukyutanxPutyukan
Eternal Poster
Provide further information about galleon trade. How did it help the Philippines economically?
What is the role of UN in globalization?The Galleon trade, also known as the Manila-Acapulco Trade, was a trading route that existed between Manila in the Philippines and Acapulco in Mexico from 1565 to 1815. The trade involved the exchange of goods such as silk, spices, porcelain, and gold between the two regions.
The Galleon trade played a significant role in the economic development of the Philippines during the Spanish colonial period. The trade brought wealth to the Philippines as it became the center for the exchange of goods between Asia and the Americas. The Philippines became a major supplier of raw materials such as silk, cotton, and spices to Mexico, while Mexico supplied silver and other goods to the Philippines.
The Galleon trade also helped to stimulate the development of industries such as shipbuilding, agriculture, and mining in the Philippines. The trade created employment opportunities as well as local markets for goods produced in the country.
The profits from the Galleon trade were used to finance the construction of churches, public buildings, and other infrastructure throughout the Philippines. This helped to strengthen the colonial government and maintain the Spanish presence in the region.
In summary, the Galleon trade was a vital economic link between the Philippines and Mexico, which helped to boost the Philippine economy and promote economic development during the Spanish colonial period.
The United Nations (UN) plays a significant role in globalization, as it is a global organization that promotes international cooperation and aims to address global issues such as poverty, climate change, human rights, and social and economic development.What is the role of UN in globalization?