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This practice of having colonies was called Imperialism and there were several reasons for it. This was durinbg the time of industrialization, when nations were building factories and mass-producing things. Colonies were a way to get cheap natural resources and cheap labor. They also created new markets for selling the things that the factories produced. More than just an econimic issue, colonies were a badge of status. The more colonies a nation had, the more powerful it was. It was basically a competition between the nations.

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