This System Defined The Global Economy For 211 Years

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Chapter Breakdown

00:00 Intro
03:08 The Old World of Trade
06:12 Pax Britannica
14:02 The American Century
17:32 Who Is Actually Paying For All This?
19:27 Why It's Changing
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All materials in these videos are for educational purposes only and fall within the guidelines of fair use. No copyright infringement intended. This video does not provide investment or financial advice of any kind.

Music Courtesy of: Epidemic Sound

Select Footage Courtesy of: Getty Images

#economics #shipping #trade #money

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The SAUCE 🥫

https://www.lloydslist.com/LL1154731/Global-marine-insurance-premiums-hit-all-time-high

https://www.lloydslist.com/LL1156998/Indonesia-walks-back-proposal-of-Malacca-Strait-toll

https://www.channelnewsasia.com/watch/indonesia-floats-idea-taxing-vessels-transiting-strait-malacca-6073766

https://www.jpmorgan.com/content/dam/jpm/cib/complex/content/research/dedollarization_update/Dedollarization_Chart.svg

https://breakingdefense.com/2026/01/navy-chief-calls-for-defense-spending-to-hit-new-normal-of-4-gdp/

https://www.dw.com/en/germanys-merz-says-europe-must-end-us-defense-free-ride/live-73003399

https://www.forbes.com/councils/forbesbusinesscouncil/2024/09/26/the-resurgence-of-us-manufacturing-onshoring-and-nearshoring-trends/

https://www.un.org/depts/los/convention_agreements/texts/unclos/unclos_e.pdf

https://www.legal-tools.org/doc/7b4abc-1/pdf/

https://ourworldindata.org/grapher/growth-of-global-trade?time=earliest..1950

https://ourworldindata.org/grapher/growth-of-global-trade?time=earliest..1913

VISUAL SOURCES

https://hansard.parliament.uk/Commons/1899-03-13/debates/b7705b2b-282f-41d9-8879-63df10241865/NavyEstimates1899%E2%80%931900

https://www.lloyds.com/about-lloyds/history/the-trans-atlantic-slave-trade/lloyds-marine-insurance-and-slavery

https://www.histproj.org/completed/LEONARD_Marine%20insurance%20pricing%20revolution.pdf

https://boydellandbrewer.com/9781783276929/london-marine-insurance-1438-1824/

Books

Kennedy, The Rise and Fall of British Naval Mastery (1976)

Palmer, Politics, Shipping and the Repeal of the Navigation Laws (1990)

Sondhaus, Naval Warfare, 1815–1914 (2001)

Mitchell, European Historical Statistics (1975)

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In the late afternoon about 200 nautical miles off the coast of India, the 23 man crew of the “Ever Alot”, (one of the largest container ships in the world), completes their daily inventory checks.
Onboard are just under 21,000 standard shipping containers with a combined value of over 1.2 billion dollars, on top of the ship itself which is worth tens of millions of dollars in scrap metal alone.
This ship has no defenses and no financial attachments to any of the countries it will be sailing past on its three week journey, none of whom are direct military or economic allies of the ship's flag state or owner…
Its relatively small crew are a mix of nationals primarily from the Philippines, Taiwan and the Netherlands, all of whom have specifically been trained not to put themselves in harm's way to defend the ship's valuable cargo.
The point is that any single navy from any single one of these countries could easily commandeer this incredibly valuable vessel… but they don’t…
On the contrary almost all of these countries would use their naval resources to render assistance should this ship (or any ship for that matter) run into trouble around their waters.
Today we almost take this assumption of safe free passage for granted. A Taiwanese ship flagged in Panama sailing under a Dutch Captain, transporting primarily Chinese made goods from Singapore to Greece can sail through Indian territorial waters with practically no fear that it will be attacked along the way… and it can do it completely for free.
But it wasn’t always like this…
In the year 1750 in this very same waterway, global trade was a decidedly more militarized affair.
The major global trade companies of the time were pseudo naval powers in their own right.
Merchant vessels were laden with cannons, ships travelled in convoys and the reason why spices from Asia were such a luxury was because they were pricing in such a risk.
In less than 30 years a few major changes to global economics and colonial era geopolitics took us from this system of every man for themselves on the high seas to what we have today…
And you know what… Barring a few little… uhh \