Final answer:
The fifteenth century saw influential figures and groups like Italian merchants, the Portuguese, and the Hanseatic League shaping global trade and economic growth. This era laid the groundwork for European exploration, colonization, and the eventual establishment of worldwide trade networks.
Step-by-step explanation:
Important Figures and Groups in 15th-Century Trade
During the fifteenth century, several important people and groups significantly impacted trade. Italian merchants played a crucial role, with figures like Marco Polo establishing longstanding trade routes and influencing the connection between Europe and Asia. The wealth accumulated by these Italian states spurred the monarchs of Europe to encourage exploration and the establishment of direct trade relations, to participate directly in the lucrative trade networks. Meanwhile, Islamic kingdoms were fundamental intermediaries in the trade of luxury goods and materials, contributing greatly to the interconnected market system.
European pressures towards economic expansion led to exploratory voyages and the desire to bypass intermediary traders. Notably, Portugal sought to establish more direct trade routes, thereby reducing the influence of intermediary merchants. This period also saw a revival of overland and maritime trade routes previously established, such as those by the Hanseatic League, and witnessed the increased power of Italy's city-states like Florence, which became centers of financial developments including banking and foreign exchange.
The development of global trade networks entangled European powers in colonization efforts, creating a complex international financial and political system. Spain and the Netherlands were among the countries that leveraged their maritime prowess to establish a presence overseas, evidenced by Spain's control over the Philippines and the Dutch establishment of Batavia in Indonesia.