MAP 16.2 Dutch Commerce in the Seventeenth Century
Even before gaining formal independence from the Spanish in 1648, the Dutch had begun to compete with the Spanish and Portuguese all over the world. In 1602, a group of merchants established the Dutch East India Company, which soon offered investors an annual rate of return of 35 percent on the trade in spices with countries located on the Indian Ocean. Global commerce gave the Dutch the highest standard of living in Europe and soon attracted the envy of the French and the English.