Changes

After 1689 England created the world's first modern financial and banking system. The City of London, where finance was and is still based, became the financier to the world, providing short-term credit for trade and long-term credit for investment. By 1810 Britain also had its [[Industrial Revolution]], which produced a flow of high-quality low-cost, textiles, machines and other products that could be sold worldwide. As the leading force in finance and manufacturing, and as the world's dominant naval power, Britain could easily expand across the globe, and did so. In general, in Latin America and China the expansion did not involve colonies.<ref>The British set up a new colony in Hong Kong that became its base for expansion into the China market. Otherwise China remained independent. There were two small colonies on the mainland of Latin America, but they were not very important.</ref>  In Africa and Asia new or enlarged colonies were the method used.  

After 1689 England created the world's first modern financial and banking system. The City of London, where finance was and is still based, became the financier to the world, providing short-term credit for trade and long-term credit for investment. By 1810 Britain also had its [[Industrial Revolution]], which produced a flow of high-quality low-cost, textiles, machines and other products that could be sold worldwide. As the leading force in finance and manufacturing, and as the world's dominant naval power, Britain could easily expand across the globe, and did so. In general, in Latin America and China the expansion did not involve colonies.<ref>The British set up a new colony in Hong Kong that became its base for expansion into the China market. Otherwise China remained independent. There were two small colonies on the mainland of Latin America, but they were not very important.</ref>  In Africa and Asia new or enlarged colonies were the method used.  

Britain's greatest exports were modernization of the economy, and fostering a cosmopolitan attitude toward government, business, law and civic duty, as opposed to local support for traditional rulers and customs.  The Empire brought each colony a modern infrastructure, with new roads, railways, ports, banks, post offices and telegraph systems that any modern person could use. Cain and Hopkins (2001) argue that British imperialism was not a form of plunder that hurt the economies they took over; rather, it primarily modernized the territories it controlled.<ref>See Cain and Hopkins, ''British Imperialism'' (2001)</ref>

Britain's greatest exports were modernization of the economy, and fostering a [[cosmopolitan]] attitude toward government, business, law and civic duty, as opposed to local support for traditional rulers and customs.  The Empire brought each colony a modern infrastructure, with new roads, railways, ports, banks, post offices and telegraph systems that any modern person could use. Cain and Hopkins (2001) argue that British imperialism was not a form of plunder that hurt the economies they took over; rather, it primarily modernized the territories it controlled.<ref>See Cain and Hopkins, ''British Imperialism'' (2001)</ref>

Imperial policy was set by London-based financial and mercantile interests.  Gentlemanly capitalism was the nexus of landed, financial, and service elites that dominated politics and the economy in Britain and were the driving force behind imperial expansion.  That is, "gentlemanly capitalists" in Britain set policy, while the dominions were run by a dependent and collaborating elite.<ref>Cain and Hopkins (2001); Dumett, 1999</ref>

Imperial policy was set by London-based financial and mercantile interests.  Gentlemanly capitalism was the nexus of landed, financial, and service elites that dominated politics and the economy in Britain and were the driving force behind imperial expansion.  That is, "gentlemanly capitalists" in Britain set policy, while the dominions were run by a dependent and collaborating elite.<ref>Cain and Hopkins (2001); Dumett, 1999</ref>