Africans were not the majority of all the world"s slaves until the early. European traffic in african slaves was the product of the. European states sought power and influence in the new world and in africa. The spirit of renaissance the practice of the commercial revolution and new techniques of exploitation helped the. By late 17th cent new world land owners began to favor black slaves. Slaves could be purchased, helped to stabilize labor force. Slaves were easily apprehended because of their skin color. The wealth that flowed from the staple crops cultivated by slave labor created much of the prosperity and power of europeans. Spain and portugal, were first then later holland, france and. Britain dominated commercial and economic affairs of the. The african slave trade played a crucial role in the quickening of the european commerce, industry, and banking. As a consequence, there was a shift of economic power from.