Questions

The Berlin Conference of 1884–85 was a meeting between European nations to create rules on how to peacefully divide Africa among them for colonization. The conference was convened by Portugal but led by Otto von Bismarck, chancellor of the newly united Germany. 

The 14 countries that attended included all the major European powers, as well as Russia, Turkey and the United States. The conference began with a dispute about the Congo River basin.Slavery was forbidden throughout Africa. The attendees agreed upon a principle of effective occupation by which rights over African colonies would be assessed.

Before the conference, about 80 percent of African territory was still in local hands. By 1902, European powers controlled 90 percent of Africa.

Mercantilism was the principle that wealth of a nation comes from trading with other nations and also comes by imposing government regulations on all of the nation's economic interests.

The main principles of mercantilism:

• the country's wealth is determined by the amount of precious metals in the country,

• Wealth is created in business relations (International Trade)

• The goal is an active trade balance of trade,

• to serve protectionism, government subsidies and the issue of protective tariffs.

Australia Day is observed on January 26 every year since 1788.