Finally, let’s talk a bit about the internal market. In Victoria it was simply your own country, but now Great Powers have an expanded internal market. It is not just their country, but countries inside their sphere of influence as well. Thus, you can use warfare (or diplomacy) to carve out commercial advantages for your country. You have these captive markets that buy from you first and then the rest of the world and will sell to you first and then the rest of the world. This allows the creation of an informal empire. As Britain you have no need to go conquering in South America; bring these countries into your sphere of influence and they will automatically orientate their economies towards you. Similarly, the USA may want to intervene in Central America to make sure the United Fruit Company maintains its favoured position.
what about market access ?
will there be differentiation in that, countries which have exclusive trade agreements in between them will constitute a separate market in themselves, with different supply and demand in that market ?
introduction of economic sphere, ie commonwealth thing is very good for implementing colonialism principles, after all the main drive for expansionalism and imperialism was to garner markets for produce.
but, will the great power be able to prevent its colonies/dominions from trading with the world market and other countries ?
if so, if a dominion/colony is allowed to make trade agreements with other countries, will they constitute a separate market with that country or countries ?