The so-called Manila Galleon (“Nao de China” or “Nao de Acapulco”) brought porcelain, silk, ivory, spices, and myriad other exotic goods from China to Mexico in exchange for New World silver. (It is estimated that as much as one-third of the silver mined in New Spain and Peru went to the Far East.)
Why were the galleon ships also called China ship?
The Manila galleons were also (somewhat confusingly) known in New Spain as La Nao de la China (“The China Ship”) on their voyages from the Philippines because they carried mostly Chinese goods, shipped from Manila.
What is the importance of Manila galleon in the Philippine history?
They were the sole means of communication between Spain and its Philippine colony and served as an economic lifeline for the Spaniards in Manila. During the heyday of the galleon trade, Manila became one of the world’s great ports, serving as a focus for trade between China and Europe.
Why was the galleon trade important?
The Manila galleon trade made significant contributions to colonial Spanish culture. It helped to fashion the very society of the Philippines, which relied upon its income, its merchandise, and the services of Chinese, Malay, and other participants.
Why was galleon abolished?
Almost half of silver dollars in trade would flow back into China. … In 1815, galleon trade was phased out after the Spanish king issued an imperial edict to abolish galleon trade due to the impact of independent movements in Latin America and free trade in Britain and America.
What is galleon trade Philippines?
The Galleon Trade was a government monopoly. Only two galleons were used: One sailed from Acapulco to Manila with some 500,000 pesos worth of goods, spending 120 days at sea; the other sailed from Manila to Acapulco with some 250,000 pesos worth of goods spending 90 days at sea.
How did galleon trade affect globalization?
“Globalization started with trade in Asia, in Spanish America,” said Mr. Gordon. He further emphasized that the galleon trade put up the ground for globalization by bringing about economic and cultural exchange and integration of financial markets between Asia and the Americas.
How many years did Spain colonize the Philippines?
The Spanish colonial period of the Philippines began when explorer Ferdinand Magellan came to the islands in 1521 and claimed it as a colony for the Spanish Empire. The period lasted until the Philippine Revolution in 1898.
How many days is the sailing from Manila to Acapulco?
These ships were the ‘umbilical cord’ that sustained the Spanish colonization of the islands and the westward expansion of the Spanish Empire beyond the Americas. The long voyage from Manila to Acapulco usually lasted five or six months.