Page No: 102
Write in Brief
1. Give two examples of different types of global exchanges which took place before the seventeenth century, choosing one example from Asia and one from the Americas.
Examples of the different types of global exchanges which took place before the seventeenth century:
• Example from the Americas: America had abundant crops, minerals and precious metals like gold and silver. The Europeans enhanced their wealth by utilising the rich resources of gold and silver.
• Example from Asia: China exported pottery and silk to India and Southeast Asia in return of textile goods and spices.
(Para – 4 and 5, Page No. 79| Para – 1, Page No. 78)
2. Explain how the global transfer of disease in the pre-modern world helped in the colonisation of the Americas.
The global transfer of disease in the pre-modern world helped in the colonisation of the Americas because the original inhabitants had no immunity against these diseases that came from Europe. Before the discovery of America, it had been cut off from regular contact with the rest of the world for millions of years. In particular, Smallpox proved a deadly killer. Once introduced, it spread deep into the continent, ahead even of any Europeans reaching there. It killed and decimated whole communities, paving the way for conquest.
(Para – 4 and 6, Page No. 79)
3. Write a note to explain the effects of the following:
(a) The British government’s decision to abolish the Corn Laws.
(b) The coming of rinderpest to Africa.
(c) The death of men of working-age in Europe because of the World War.
(d) The Great Depression on the Indian economy.
(e) The decision of MNCs to relocate production to Asian countries.
(a) After the British government’s decision to abolish the Corn Laws, food could be imported into
Britain more cheaply than it could be produced within the country. British agriculture was unable to compete with imports. Vast areas of land were now left uncultivated, and thousands of men and women were thrown out of work. They flocked to the cities or migrated overseas. This indirectly led to global agriculture and rapid urbanisation, a prerequisite of industrial growth.
(Para – 6, Page No. 81)
(b) Rinderpest had a terrifying impact on people’s livelihoods and the local economy. Rinderpest killed 90 percent of the cattle which destroyed African livelihoods. Planters, mine owners and colonial governments strengthen their power and forced Africans into the labour market.
(Para – 3 and 4, Page No. 87)
(c) The death of men of working-age in Europe because of the World War reduced the able-bodied workforce in Europe. As men went to battle, women stepped in to undertake jobs that earlier only men were expected to do.
(Para – 5 and 6, Page No. 92)
(d) The depression immediately affected Indian trade. India’s exports and imports nearly halved between 1928 and 1934. Between 1928 and 1934, wheat prices in India fell by 50 percent. Across India, peasants’ indebtedness increased. They used up their savings, mortgaged lands, and sold whatever jewellery and precious metals they had to meet their expenses. In these depression years, India became an exporter of precious metals, notably gold.
(Para – 6, Page No. 96| Para -1,2 and 3, Page No. 97)
(e) The relocation of industry to low-wage countries stimulated world trade and capital flows. In the last two decades, the world’s economic geography has been transformed as countries such as India,
China and Brazil have undergone rapid economic transformation.
(Para – 6, Page No. 101)
4. Give two examples from history to show the impact of technology on food availability.
→ Faster railways, lighter wagons and larger ships helped move food more cheaply and quickly from faraway farms to final markets.
→ Refrigerated ships, which enabled the transport of perishable foods like meat, butter and eggs over long distances.
(Para – 4, Page No. 83)
5. What is meant by the Bretton Woods Agreement?
The Bretton Woods Agreement was signed between the world powers in July 1944 at Bretton Woods in New Hampshire, USA. It established the International Monetary Fund (IMF) to deal with external surpluses and deficits of its member nations and the International Bank for Reconstruction and Development was set up to finance post-war reconstruction.
(Para – 3 and 4, Page No. 99)
6. Imagine that you are an indentured Indian labourer in the Caribbean. Drawing from the details in this chapter, write a letter to your family describing your life and feelings.
I hope all of you are fine there. I have been hired by the colonisers under a contract stating that I could return to India after working for five years at a plantation. However, the contract was a fraud and these are not allowing me to return. I joined this job in the hope to escape poverty and oppression but the condition of living and working is very harsh here. Most of the workers here belong to Bihar, central India and the dry regions of Tamil Nadu. There are few legal rights given to us. However, we have developed new art forms for expression.
(Topic – Indentured Labour Migration from India, Page No. 87 and 88)
7. Explain the three types of movements or flows within international economic exchange. Find one example of each type of flow which involved India and Indians, and write a short account of it.
The three types of movements or flows within the international economic exchange are:
(i) Flow of trade: mean trade in goods such as cloth or wheat.
(ii) Flow of labour: mean the migration of people to new areas in search of work.
(iii) Flow of capital: short-term and long-term loan to and from other nations.
(ii) In the nineteenth century, hundreds of thousands of Indian labourers went to work on plantations, in mines, and in road and railway construction projects around the world.
(iii) During British rule in India, many Europeans established their factories in India. Also, many Indian traders ventured beyond European colonies and they established flourishing emporia at busy ports worldwide, selling local and imported curios to tourists.
(Para – 2, Page No. 81)
8. Explain the causes of the Great Depression.
The Great Depression was a result of many factors:
→ Stock market crashed in 1929. It created panic among investors and depositors who stopped investing and depositing. As a result, it created a cycle of depreciation.
→ Failure of the banks: Some of the banks closed down when people withdrew all their assets, leaving them unable to invest. Some banks called back loans taken from them at the same dollar rate inspite of the falling value of dollar. It was worsened by British change in policy to value pound at the pre-war value.
(Para – 6 and 7, Page No. 95| Para – 1 and 2, Page No. 96)
9. Explain what is referred to as the G-77 countries. In what ways can G-77 be seen as a reaction to the activities of the Bretton Woods twins?
G-77 countries is a group of developing countries that demanded a new international economic order (NIEO); By the NIEO they meant a system that would give them real control over their natural resources, more development assistance, fairer prices for raw materials, and better access for their
manufactured goods in developed countries’ markets.
The Bretton Woods twins i.e., the International Monetary Fund and the World Bank have been established by the developed countries. The decision-making power in these institutions is in the hands of the Western industrial powers and USA. These institutions were set up to meet the financial needs of the industrialised countries and had nothing to do with the poverty and lack of development in the former colonial countries and developing nations. G-77 was created to cater the needs of developing nations. Therefore, G-77 be seen as a reaction to the activities of the Bretton Woods twins.
(Para – 6, Page No. 100)