1. Trade: The colonies exported raw materials such as cotton, tobacco, and rice to Great Britain, which were then used to produce manufactured goods. In turn, the colonies imported finished goods such as textiles, furniture, and tools from Great Britain. This trade relationship ensured a steady market for colonial goods and provided the colonies with access to a variety of manufactured products.
2. Currency: The colonies used British currency, which was issued by the Bank of England. This meant that the colonies were dependent on the British financial system for their currency supply and the stability of their economy.
3. Investment: British investors provided much of the capital needed to finance colonial businesses and infrastructure projects. This investment helped to develop the colonial economy and create jobs.
4. Shipping: British ships were used to transport goods between the colonies and Great Britain, as well as to other parts of the world. This made the colonies reliant on British shipping companies and the British navy for the movement of their goods.
5. Navigation Acts: The Navigation Acts, passed by the British Parliament, restricted trade between the colonies and other countries, ensuring that the colonies were economically tied to Great Britain. These acts required that all goods imported into the colonies be carried on British ships and paid customs duties in Great Britain.