Pax Britannica

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Pax Britannica (Latin for "Peace of Britain", modeled after "Pax Romana") refers to a period of British imperialism after the Battle of Waterloo and the War of 1812, which led to a period of overseas British expansionism. The term is derived from, during this period, Europe being relatively peaceful and the British Empire controlling most key naval trade routes and enjoying unchallenged sea power. Britain dominated overseas markets and favored a strategy of informal colonialism: controlling markets like China's without direct formal colonial administration.

This led to the spread of the English language, the British Imperial system of measures, and rules for commodity markets based on English common law. When colonies had the capacity (but not the right) to trade directly with each other, challenges to central rule erupted, and New Imperialism largely arose as a response. Pax Britannica was weakened by the breakdown of the continental order established by the Congress of Vienna and the consequent establishment of new nation-states in Italy and Germany after the Franco-Prussian War. The industrialization of Germany and the United States also contributed to the decline of British industrial supremacy following the 1870s.

See also: commodity markets, British Empire, UK topics; Compare: Pax Americana, Pax Sinica.