Explain the role of european monopoly companies on the development of overseas territories

The main driver for the initial accumulation of capital over the 16-18 centuries was the monopoly trading companies. Dutch, French, and British East India companies were created under the auspices of their governments, from which they received practically unlimited powers (carte blanche) for operations in vast spaces.

The management of the companies pitted local rulers among themselves, imposed on them, under various pretexts, favorable contracts for Europeans, and put under own control the economic and social life of the local population. The establishment of a monopoly on the procurement, delivery, and sale of “colonial goods” brought huge profits to companies.

At the end of the 19th century, the role of monopolies in the struggle for sources of raw materials and the growth of capital exports was intensified. Over time, the interests of monopolistic merchant companies and the European states behind them began to clash. The struggle for spheres of influence began, for the colonial redistribution of the world. The arena of numerous colonial wars was represented by all continents.

Explanation:

The roles of European monopoly companies on the development of overseas territories are::

A monopolistic market is one where there is only one producer and distributor in a market, without any significant competitor.

The Europeans wanted a monopolistic market so they had to expand overseas as a means of getting cheap labor and other advantages which would help them increase profit.

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