Impact of colonialism on various colonies are as follows: . Trade flourished and markets expanded in the late 19th century but it also led to loss of freedom and livelihoods. . European conquests produced many painful economic, social and ecological changes through which the colonised societies were brought into the world economy. . Rival European powers in Africa drew up the borders demarcating their respective territories, being called as paper partition. . Britain and France made vast additions to their overseas territories in the late 19th century. Belgium and Germany became new colonial powers. . The US also became a colonial power in the late 1890’s by taking over some colonies that were earlier held by Spain.