(b) (i) Rinderpest, a devastating cattle disease, arrived in Africa in the late 1880s. It was carried by infected cattle imported from British Asia to feed the Italian soldiers invading Eritrea in East Africa. (iii) Because of their long isolation, America’s original inhabitants had no immunity against these diseases that came from Europe. Today, the U.S. dollar isn’t backed by anything, other than the U.S. government’s own ability to generate revenue.
NCERT Solutions for Class 10 Social Science History Chapter 3 The Making of a Global World: Download in PDF
Thus, their activities were no longer limited to home and hearth. (iv) British agriculture could not compete with imports. Vast areas of land were left uncultivated, and thousands of men and women were thrown out of work. The Making of Global World Class 10 Questions and Answers Provided helps you to answer complex Questions too easily. You can use them while preparing for board exams and all of them are given by subject experts. Reading NCERT Solutions for Class 10 Social Science History Chapter 4 The Making of Global World familiarizes you with the kind of questions appearing in the board exams.
The interconnections could sometimes be broken – for example, labour migration was often more restricted than goods or capital flows. Yet it helps us understand the nineteenth-century world economy better if we look at the three flows together. Explain how the global transfer of disease in the pre-modern world helped in the colonisation of the Americas.
Class 10 History Chapter 4 NCERT Intext Activity Questions and Answers
- The fall in agricultural price led to a reduction of farmers’ income and agricultural export.
- (c) Conditions created by the War were also responsible for the Great Depression, during expansion to fulfil the increasing demand for war-related goods.
- These deaths and injuries reduced the able-bodied workforce in Europe, with fewer numbers within the family, household incomes declined after the war.
The relocation of industry to low wage countries stimulated world trade and capital flows. (c) Most of the killed and maimed in the First World War were men of working age. (d) (i) An integrated global economy had taken place by the early twentieth century. Hence, the impact of the Great Depression could be seen on India too. (ii) As urban centres expanded and industries grew, the demand for agricultural products went up.
These countries were brought together to help regulate and promote international trade across borders. As with the benefits of all currency pegging regimes, currency pegs are expected to provide currency stabilization for the trade of goods and services as well as financing. It wasn’t until 1958 that the Bretton Woods system became fully functional. Once implemented, its provisions called for the U.S. dollar to be pegged to the value of gold. Moreover, all other currencies in the system were then pegged to the U.S. dollar’s value.
Countries what is meant by the bretton woods agreement class 10 were required to monitor and maintain their currency pegs which they achieved primarily by using their currency to buy or sell U.S. dollars as needed. The Bretton Woods system, therefore, minimized international currency exchange rate volatility which helped international trade relations. More stability in foreign currency exchange was also a factor in the successful support of loans and grants internationally from the World Bank. The Bretton Woods agreement and system were central to these goals. The agreement also created two important organizations—the International Monetary Fund (IMF) and the World Bank.
NCERT Solutions for Class 10 Social Science History Chapter 4 The Making of Global World
(iii) In the nineteenth century, hundreds of thousands of Indian labourers went to work on plantations, in mines, and in social and railway construction projects around the world. These were indentured labourers who were hired under contracts which promised return travel to India after they had worked five years on their employer’s plantation. They used up their savings, mortgaged lands and sold whatever jewellery and precious metals they had to meet their expenses. This made India an exporter of precious metals, notably gold. Indian gold exports promoted global economic recovery but the Indian peasants were bound to lead a miserable life.
In these depression years, India became an exporter of precious metals, notably gold. (d) The Great Depression immediately affected Indian economy. India’s exports and imports nearly halved between 1928 and 1934. As international prices crashed, prices in India also plunged. Though agricultural prices fell sharply, the colonial government refused to reduce revenue demands. Peasant producing for the world market were the worst hit.
Within two years, it spread in the whole continent reaching Cape Town within five years. Rinderpest had a terrifying impact on people’s livelihoods and the local economy. Planters, mine owners and colonial governments became successful to strengthen their power and to force Africans into the labour market.
The Bretton Woods agreement established a currency exchange regime system in 1944, following years of negotiations among 44 nations. This system required a currency peg to the U.S. dollar which was in turn pegged to the price of gold. The Bretton Woods system ultimately would go on to collapse in the 1970s. Though the Bretton Woods conference itself took place over just three weeks, the preparations for it had been going on for several years.
The purpose of the IMF was to monitor exchange rates and identify nations that needed global monetary support. Today, the IMF has 190 member countries and still continues to support global monetary cooperation. In tandem, the World Bank helps to promote these efforts through its loans and grants to governments. (ii) In the mid-1920s, many countries financed their investments through loans from the US.
But the US withdrew giving loans if there was any kind of trouble. So countries depending crucially on US loans faced an acute crisis disturbing world trade. (i) Historically, fine cottons produced in India were exported to Europe. With industrialisation, British cotton manufacture began to expand and industrialists pressurised the government to restrict cotton imports and protect local industries. As a result, the inflow of fine Indian cotton began to decline.