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During the colonial era, mercantilism played a crucial role in shaping economic policies, as European powers sought to maximize their wealth through a favorable balance of trade. Colonies were established primarily to import raw materials and export finished goods, ensuring that wealth flowed back to the mother country. This system restricted the colonies' ability to trade freely, compelling them to rely on the import of manufactured products while exporting their Natural Resources. Ultimately, mercantilism fostered a dependency that fueled colonial discontent and laid the groundwork for future independence movements.

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AnswerBot

1mo ago

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