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Travelers, traders and priests carried goods, class 10th ncert history chapter 4 year, value, skills, idea and innovation along with diseases spread from 7 th century. Cowries seashells as currency from Maldives to China and East Africa. Foods like potatoes, soya, groundnuts, maize, tomatoes, chilies, sweet potatoes were not known to our ancestors class 10th ncert history chapter 4 year centuries hstory � introduced after Columbus accidently discovered Americas many common food came from America.
Once introduced it spread into continent even before Europeans reached and paved way for conquest. From 15 th century � China restricted overseas contacts and retreated into isolation. Traditionally self-sufficiency in food was liked but in 19 th cnapter � for Britain it meant lower living standards and social conflicts.
Population increased � led to increase in demand and rise in food prices, restriction on import of corn by government Corn Laws. Industrialists forced abolition of Corn Laws as they were unhappy with high food prices. Now, food import became cheaper that local manufacturing � leading to vast uncultivated land and men and women out of work. They flocked to cities and migrated overseas. As food prices declined, consumption rose.
After mid 19 th century � faster industrial growth with higher incomes and more food imports. In Eastern Europe, Russia, America and Australia � lands were cleared and food production expanded to meet British demand. Food started to come from long distances, not grown by peasants tilling the own land but from workers who came to farm from a forest. Role of transportation increased. In West Punjab � irrigation canals were built to transform semiarid areas into fertile belt that could grow wheat and cotton for export.
Canal colonies area irrigated by new canals � settled by peasants from other parts of Punjab. Between and world trade is estimated to have multiplied 25 to 40 times. Cattle were traded at fairs, brought by farmers for sale. One of the oldest livestock markets class 10th ncert history chapter 4 year London was at Smithfield. In - big European powers met in Berlin jistory complete the carving up of Africa between them mainly Britain and France ; new colonial powers were Belgium and Germany.
US became colonial power in s by taking colonies earlier held by Spain. Stanley journalist and explorer sent by New York Herald to found missionary Livingston went with arms, mobilized local hunters, warriors and laborers to help him, fought with local chaapter, investigated African terrains, and mapped different regions. In s � rinderpest affected people � is example ywar European imperial impact on colonized societies. If African had land and livestock � there was no reason to work for wages.
Late 19 th century � Europeans were attracted to Africa due to vast land and mineral resources with hope to establish plantation and mines to produce crops but there was shortage of labor willing to work for wages.
Employers tried many methods like heavy taxes that could only be paid by working for wages on plantation; changes in inheritance law so ysar only 1 member could 10tg land and push others into labor market; confine mineworkers to compounds and not allow them to hishory freely. Rinderpest in s � from infected cattle imported from British Asia to feed Italian soldiers invading Eriteria in East Africa. Planters, mine class 10th ncert history chapter 4 year and colonial governments now successfully monopolized what scarce cattle resources remained, to strengthen their power and to force Africans into the labor market.
Indentured labor bonded laborer under contract to work for an employer for a specific amount of time, to pay off his passage to a new country or home. Faster economic growth with great misery � mixed with higher income and poverty and technological advances. In Mid th century � regions of India mentioned above experienced cottage industries class 10th ncert history chapter 4 year, increased land rent and clearing land for mines and plantation � these affected lives of poor clasw they failed to pay rent, became indebted and were forced to migrate mainly to Caribbean islands mainly Trinidad, Guyana and SurinamMauritius and Fiji.
Some to chqpter plantations in Assam. Recruitment was done by agent who got commission. Agents gave false information about final destination and tempted migrants by false information. Protest religion of Rastafarianism made famous by the Jamaican reggae star Bob Marley is also said to reflect social and cultural links with Indian migrants to the Caribbean. Nationalists leaders started to oppose this system and was abolished in Descendants of Indian indentured workers as coolies remained uneasy minority in Caribbean.
Novels of Naipaul capture sense of loss and alienation. Hyderabadi Sindhi traders from s established flourishing emporia at busy ports worldwide, selling local and imported curios to tourists. Initially fine cotton from India was exported to Europe but with industrialization British cotton expanded.
British goods flooded Indian markets; foodgrains and raw hidtory export from India to Britain increased. Abled bodied workforce reduced with fewer numbers in family, household income declined after war. Britain borrowed large sums of money from US banks and public and US transformed from international debtor to creditor while Britain was under external debt.
Britain found hard to recapture the earlier position and compete with Japan cnert. After war, production contracted and hhistory increased � led to job losses in � one of every five worker was out of work.
Before war, Eastern Europe was supplier of wheat to world but was disrupted during war and wheat production in Canada, America and Australia class 10th ncert history chapter 4 year. After war, Eastern Europe revived cass grain prices fell, rural income declined and farmers were into debt.
Cars came off at 3 minutes interval. It spread in Europe with lower cost and prices and more workers could now afford to purchase durable consumer goods like cars production-increased form 2 million in to 5 million in Inthe US resumed exporting capital to the rest of the world and became the largest overseas lender.
Agricultural economies were worst affected, agricultural income declined and farmers tried class 10th ncert history chapter 4 year expand production, this brought large volume of produce to market which reduced prices. US banks also slashed domestic lending and called class 10th ncert history chapter 4 year loans.
Peasants, framers suffered more, agricultural prices fell, and colonial government refused to reduce revenue demands � peasants producing for world market were worst hit. During this time, Indian export for gold increased and economist Keynes believed that Indian gold export promoted global economic recovery.
Urban people in India with fixed income and salaries found themselves at better off position. Dominance of the Soviet Union - It had made huge sacrifices to defeat Nazi Germany, and transformed itself from a backward agricultural country into a world power. Industrial society based on mass production cannot class 10th ncert history chapter 4 year unless there is mass consumption which requires high and stable income and stable employment.
Goal of full employment could only be achieved if governments had power to control flows of goods, capital and labor. Bretton Woods Conference established IMF � to deal with external surplus and deficit class 10th ncert history chapter 4 year member nations. International Bank for Reconstruction and Development or World Bank as was known was set up to finance postwar reconstruction. The post-war international economic system is also often described as the Bretton Woods.
The international monetary system is the system linking national currencies and monetary. Bretton Woods system was based on fixed exchange rates.
In this system, national currencies, for example the Indian rupee, were pegged to the dollar at a fixed exchange rate. Worldwide spread of technology and enterprise � investment in capital, import of industrial plant and equipment was.
Thus from the late s the Bretton Woods institutions began to shift their attention more towards developing countries. New independent countries faced issues of coming out of poverty � even after decolonization their economies were controlled by colonial powers. Large corporations like US managed to exploit resources of developing nations cheaply. US dollar was no longer a principal currency � fixed exchange rate system government intervene to prevent movement ended and floating exchange rate based on demand and supply of currency in international market started.
Earlier, developing countries could turn to international institutions for loans and development assistance. But now they were forced to borrow from Western commercial banks and private lending institutions. This led to periodic debt crises in the developing world, and lower incomes and increased poverty, especially in Africa and Latin America. Unemployment started to rise from s and rose till s � MNCs started class 10th ncert history chapter 4 year shift production to low wage Asian nations.
Low wages in China made it destination for investment � stimulated world trade and capital flows. Study Material English. History Study Material.
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