How did international competition reshape economies during the Industrial Revolution?

International competition during the Industrial Revolution significantly reshaped economies by driving nations to seek new resources and markets, which often resulted in imperialism and colonial expansion. As industrialized nations sought to enhance their production capabilities, they recognized the need for raw materials to fuel their factories and demand for new markets to sell their goods. This quest led to an aggressive race for colonies, where countries sought to establish control over territories rich in resources, such as minerals, rubber, and agricultural products.

The competitive pressure from other industrial powers compelled nations to expand their influence globally, leading to the establishment of vast empires. This not only transformed the economies of the colonizers through increased wealth and production but also had profound impacts on the colonized regions, drastically changing their economic structures and societal norms. The expansion of trade networks facilitated by these colonial pursuits allowed for the flow of goods and resources on a previously unprecedented scale, further intertwining the global economy during this period.