Final answer:
The Dutch East India Company, or VOC, was an influential multinational corporation that dominated global trade in the 17th and 18th centuries but collapsed in 1799 due to corruption and competition. It was instrumental in setting up multinational trade and finance systems despite its downfall.
Step-by-step explanation:
The Vereenigde Oostindische Compagnie (VOC), or Dutch East India Company, was a major force in global trade for two centuries. Founded in 1602, it was the first multinational corporation and the first company to issue stocks. The VOC played an essential role in the spice trade and established extensive trade networks throughout Asia. It became powerful enough to wage wars, colonize territories, and even mint its own coins.
However, by the end of the 18th century, the VOC became synonymous with corruption, leading to its downfall. In 1799, amidst financial turmoil exacerbated by the corruption and competition from the British, the company collapsed. It was then nationalized by the Dutch government, ending its dominance in international trade.
The VOC's legacy includes a vast influence on global trade patterns, financial systems, and corporate structures despite its eventual succumb to corruption and bankruptcy. The term Vergaan Onder Corruptie reflects the tainted reputation of VOC in its final years, symbolizing how corruption led to the decline of what was once a trading juggernaut.