Scribd
Upload
2 views

The Making of a Global World

The document discusses the evolution of globalization from the pre-modern world to the post-war era, highlighting key aspects such as trade routes, the impact of technology, and colonialism. It covers significant historical events, including the introduction of new food items, the rise of industrialization, and the consequences of the Great Depression. Additionally, it addresses the establishment of international financial institutions post-World War II and the decolonization movement in Asia and Africa.

Uploaded by

ytgamer2122
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
2 views

The Making of a Global World

The document discusses the evolution of globalization from the pre-modern world to the post-war era, highlighting key aspects such as trade routes, the impact of technology, and colonialism. It covers significant historical events, including the introduction of new food items, the rise of industrialization, and the consequences of the Great Depression. Additionally, it addresses the establishment of international financial institutions post-World War II and the decolonization movement in Asia and Africa.

Uploaded by

ytgamer2122
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
You are on page 1/ 3

Section II : Chapter 4

The making of a Global World

Introduction:- Globalisation is an economic activity associated with the free movement of


goods, technology, ideas and people across the globe.
1. Section 1 – Pre Modern World (14 BC – 1450 AD)

(a) Silk Routes :-

• There are several Silk Routes, over land and by sea, knitting together vast
regions of Asia and linking Asia with Europe and Northern Africa.
• Famous Chinese Silk cargoes used to travel through these routes to Europe
and North Africa.
(b) Food Travels : Spaghetti and Potato :-

• Noodles travelled West China to become Spaghetti.


• Common food such as potatoes, soya, groundnut, maize, tomatoes, chillies,
sweet potatoes were only introduced in Europe and Asia after Christopher
Columbus discovered America.
(c) Conquest, Disease and Trade :-

• Precious metals from mines of Peru and Mexico enhanced European Trade
with Asia.
• The Spanish conquers used the germs of small pox in the conquest of
America.
• Until well into the eighteenth century, China and India were among the
world’s richest country.
• Until the Nineteenth century, poverty and hunger were common in Europe.
2. Section II : The Nineteenth Century (1815 – 1914)
(a)

• In the late Eighteenth century, growth in the population increased the


demand for food grains in Britain.
• The imported food into Britain more cheaply than it could be produced with in
the country.
• Industrial growth took place in Britain which led to higher incomes meaning
more food imports.
• It is transported by railway and by ship.
• Food is only an example. Products such as cotton, rubber, coal also had
same rate.
(b) Role of Technology

• The Railways, steamships, the telegraphs were important inventions that


transformed nineteenth century world.
• After the introduction of new technology, namely refrigerated ships animals
were slaughtered for food at the starting point and then transported to
Europe as Frozen meat.
(c ) Late Nineteenth – Century colonialism
• European conquests od Asia and Africa as colonies.
• Belgium and Germany became new colonial powers.
• The US became a colonial power in the late 1890s by taking over some
colonies earlier held by Spain.

(d) Rinderpest , or the cattle plaque :


• Rinderpest is fast spreading cattle plague which hit Africa in the late 1880s.
• It was corned by infected cattle imported from British Asia and destroyed 90
percent of the stock.
• The colonial governments now strengthen their power and to score Africans
into the labour market.
(e) Indentured labour migration from India :

• Indentured labour was a bonded labour under contract to work for an


employer.
• In the nineteenth century, thousands of Indian and Chinese labourers went to
work on plantations, in mines, and in road and railways construction projects
around the world.
• Recruitment was done by agents by providing false information about the
work and the location.
• On arrival at the plantations, labourers found living and working conditions
harsh.
• It was abolished in 1921.
(f) Indian Entrepreneurs abroad :

• Indian entrepreneurs, some bankers like Nattukottai and Chettiars export of


agriculture to central and South East Asia.
• Industrial Revolution in England changed the balance of trade between
England and India.
• Indian handicraft and agriculture were destroyed and Britain enjoyed a trade
surplus with India.
• Their exports increased and imports decreased.
3. Section III : The inter –war Economy :
(a)

• The First World War (1914-19) was the first modern industrial war.
• During the war, industries were restricted to produce war – related goods.
• The war transformed the US from being an international debtor to
International creditor.
(b) Post War Recovery :

• After the war was over, the production reduced and unemployment
increased.
(c ) Rise of Mass Production and consumption :

• In the US, war recovery was quicker.


• Assembly line method introduced by Henry Ford soon spread to the US and
were also widely copied in Europe in the 1920s.
• Mass production lowered the costs and process of engineering goods.
• There was a housing and consumer boom in 1920s, which ultimately led to
the Great depression of 1929.
• Markets crashed in 1929 and led to the failure of banks and the crisis
affected other countries.
• By 1933, over 4000 banks closed and between 1929-32 about 110000
companies collapsed.
(d) India and the Great Depression:

• India was also affected by the Great Depression (1924).


• Indian exports and imports declined extensively process fell.
• Bengal jute grower suffered the most.
• Large scale migration took place from villages to towns and cities.
4. Section IV : Rebuilding a world economy – The post war era :
(a)

• The second world war broke out a mere two decades after the end of the first
world war and once again it led to destruction.
• After the USA and the USSR emerged as super power.
(b) Post War settlement and the Bretton Wood Institution :

• To ensure a stable economy a framework was agreed upon at the United


Nations Monetary and Financial Congerence held at Bretton Woods in New
Hampshire , USA.
• It establishes the International Monetary Fund (IMF) and the World Bank.
• The International Bank for Reconstruction and Development (popularly known
as World Bank) was setup to finance post war reconstruction.
• The IMF and the World Bank commenced financial operations in 1947.
• Bretton Wood system was based on a fixed exchange Rate.
• National Currencies were pegged to the American $ at a fixed rate.
• Decision making in these institutions is controlled by the Western Industrial
Powers largely by USA.
(c ) De-colonialisation and Independence :

• Many countries in Asia and Africa became independent nations,


supported by UNO and NAM.
• Group of 77 or G-77 was organized by developing countries (134
presently) to demand a new International Economic Order (NTEO) which would
give these countries real control over their national resources, raw material,
manufactured goods in their markets.
• MNCs or Multinational companies were established in the 1950s and
1960s and operated in several countries.

You might also like

pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy