U istorijskom kontekstu, novi imperijalizam karakteriše period kolonijalne ekspanzijeevropskih sila, Sjedinjenih Država i Japana tokom kraja 19. i početka 20. veka. Tokom ovog razdoblja je došlo do neviđene potrage za prekomorskim teritorijalnim akvizicijama. U to vreme su se države fokusirale na izgradnju svojih carstava novim tehnološkim napretkom i razvojem, te na proširivanje svoje teritorije osvajanjem i iskorištavanje resursa potčinjenih država. Tokom ere novog imperijalizma, zapadne sile (i Japan) pojedinačno su osvojile gotovo celu Afriku i delove Azije. Novi talas imperijalizma odražavao je stalna rivalstva velikih sila, ekonomsku želju za novim resursima i tržištima i etos „civilizacijske misije”. Mnoge kolonije uspostavljene tokom ove ere stekle su nezavisnost u doba dekolonizacije koja je usledila posle Drugog svetskog rata.
Američki revolucionarni rat (1775–83) i kolaps Španskog carstva u Latinskoj Americi 1820-ih okončali su prvu eru evropskog imperijalizma. Posebno u Velikoj Britaniji ove revolucije su pomogle da se pokažu nedostaci merkantilizma, doktrine ekonomske konkurencije za ograničeno bogatstvo koja je podržavala raniju imperijsku ekspanziju. Godine 1846, Zakoni o kukuruzu su ukinuti i proizvođači su rasli, pošto su propisi nametnuti Zakonima o kukuruzu usporili njihovo poslovanje. Sa ukidanjem, proizvođači su mogli slobodnije da trguju. Tako je Britanija počela da usvaja koncept slobodne trgovine.
Tokom ovog perioda, između Bečkog kongresa 1815. nakon poraza NapoleonoveFrancuske i pobede carske Nemačke u Francusko-pruskom ratu 1871. godine, Velika Britanija je požnjela prednosti svoje dominantne vojne i ekonomske sile u Evropi. Kao „svetska radionica“, Britanija je mogla da proizvodi gotovu robu tako efikasno da je obično mogla da proda uporedivu, lokalno proizvedenu robu na stranim tržištima, snabdevajući veliki deo proizvedene robe koju konzumiraju takve nacije kao što su nemačke države, Francuska, Belgija, i Sjedinjenih Država.
Erozija britanske hegemonije nakon Francusko-pruskog rata, u kojoj je koalicija nemačkih država predvođena Pruskom snažno porazila Drugo francusko carstvo, bila je izazvana promenama u evropskoj i svetskoj ekonomiji i u kontinentalnom odnosu snaga nakon sloma Evropskog koncerta, ustanovljenog od strane Bečkog kongresa. Osnivanje nacionalnih država u Nemačkoj i Italiji rešilo je teritorijalna pitanja zbog kojih su potencijalni rivali bili upleteni u unutrašnje stvari u srcu Evrope u korist Britanije. Godine od 1871. do 1914. bile su obeležene krajnje nestabilnim mirom. Odlučnost Francuske da povrati Alzas-Lorenu, koju je aneksirala Nemačka kao rezultat Francusko-pruskog rata, i rastuće imperijalističke ambicije Nemačke će ove dve nacije održavati u stalnom stanju spremnosti za sukob.
Ova konkurencija je zaoštrena dugom depresijom 1873–1896, produženim periodom deflacije cena isprekidanim ozbiljnim padom poslovanja, koji je izvršio pritisak na vlade da promovišu domaću industriju, što je dovelo do široko rasprostranjenog napuštanja slobodne trgovine među evropskim silama (u Nemačkoj od 1879. i u Francuskoj od 1881).
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