W. Arthur Lewis argued that a new international economic order emerged between 1870 and 1913, and that global terms of trade forces produced rising primary product specialization and de-industrialization in the poor periphery. More recently, modern economists argue that volatility reduces growth...

India and Britain were much bigger players in the eighteenth-century world market for manufactures than were Egypt, the Levant, and the core of the Ottoman Empire, but these eastern Mediterranean regions did export carpets, silks, and other textiles to Europe and the east. By the middle of the...