Although there are many other important factors, the main cause of the rise of imperialism was certainly economic. The Age of Empire, by Eric J. Hobsbawn, provides an interpretation of the new imperialism. Hobsbawn defines imperialism as “a natural by-product of the international economy” (Sherman pg 177). He is basically saying that imperialism depends on the rivalries of competing industries, which continually drive the international economy. Hobsbawn also dictates the need for external markets. The Industrial Revolution created many products that needed markets, thus creating the need for colonies. Hobsbawn believed that the overproduction of the Industrial Revolution and the Great Depression could be solved. He also realized that many businessmen knew they could profit greatly from China's large population. For example, if each of the three hundred million Chinese purchased a box of tacks, businessmen knew that the profit would be enormous, thereby increasing the desire for colonization of weaker countries. The new technology, as described in ...