Banking
AP World History: Modern · Learn by Concept
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AP World History: Modern › Banking
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1
Many modern banking instruments and investment products first arose in __________ in the seventeenth century.
the Netherlands
CORRECT
England
Germany
France
Italy
Explanation
From the sixteenth century through the eighteenth century, the Dutch were major players in global trade. To help encourage the spread of wealth and to facilitate risky trading ventures over immense distances, the Dutch pioneered several banking institutions which quickly spread to England and the rest of Western Europe.
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