When was the monopoly of China trade lost by East India Company ?

examrobotsa's picture
Q: (CDS-I/2021)
When was the monopoly of China trade lost by East India Company ?

question_subject: 

History

question_exam: 

CDS-I

stats: 

0,50,38,31,50,4,3

keywords: 

{'china trade': [0, 0, 0, 2], 'east india company': [4, 0, 2, 1], 'monopoly': [3, 0, 4, 5]}

The correct answer is option 2, 1833.

During the 18th and early 19th centuries, the East India Company had a monopoly on trade with China. This meant that no other British company was allowed to trade with China, giving the East India Company complete control over the trade routes and profits.

However, in 1833, the British Parliament passed the Charter Act, which revoked the East India Company`s monopoly on trade with China. This act opened up the Chinese trade to other British companies, allowing them to compete with the East India Company in the Chinese market.

It is important to note that while the monopoly was lost in 1833, the East India Company did not immediately lose its influence in the Chinese trade. They continued to be major players in the Chinese market for several more years, but they no longer had exclusive control.

Overall, option 2, 1833, is the correct answer as this is the year when the monopoly of China trade by the East India Company was lost.

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