Over the nineteenth century, Britain manufacturers flooded the ____ market.

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Detailed Solution

The East India Company's trading monopoly was withdrawn in 1813, and Britain's commercial policy opened India to all, reducing India from a major exporting nation to an importing nation. Throughout the nineteenth century, British manufacturers flooded the Indian market. This was due to the fact that the value of British exports to India exceeded the value of British imports from India. The Indian market was then flooded with British machine-produced goods at lower prices and it also lost its export markets. As a result, Britain had a large trade surplus. Britain used this trade surplus to balance its trade deficits with countries where Britain imported more goods than it exported. India was forced to play in this manner.

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