NCERT CBsE Board Class 10 History Summary - Chapter 4: The Making of a Global World (Expected|Most Important|Common Topics for 2021 Exam) (Download PDF)

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Silk route - silk, goods, cargo, pottery, print and paper, gold and silver, later religion and ideologies. Food - Noodles travelled from west to China & became spaghetti. Arab traders took pasta to 5th century Sicily.

Summary for NCERT Class 10 History in 45 Minutes - Important Topics
  • Foods like potatoes, soya, groundnuts, maize, tomatoes, chilies, sweet potatoes were not known to our ancestors five centuries ago - introduced after Columbus accidently discovered Americas
  • Portuguese and Spanish conquest and colonization of America - under by mid-16th century - conquest not by firepower but by germs of smallpox
  • From 15th century - China restricted overseas contacts and retreated into isolation. China՚s reduced role and rising importance of America moved center of world trade westwards & Europe became center of world trade
  • 3 trade - flow of trade, labor and movement of capital for short term and long term investments - affected people more deeply (labor migration was restricted than goods and capital flows)
  • Canal colonies (area irrigated by new canals) - settled by peasants from other parts of Punjab
  • Between 1820 and 1914 world trade is estimated to have multiplied 25 to 40 times
  • Trade in meat - till 1870s animals were shipped live from America to Europe & then slaughtered -

Colonialism

  • Rinderpest (cattle plague) spread
  • 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)
  • 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.
  • ‘Chutney music’ , popular in Trinidad and Guyana, is another creative contemporary expression of the post-indenture experience

Entrepreneurs

  • There was need to protect local industries and restrict cotton imports & tariff imposed on imported cloth from Britain.

Inter-War Economy

  • 1st WW was mainly fought in Europe but impacts felt across the world - lasted for over 4 years, started in 1914
  • War was Allies (Britain, France and Russia, later joined by the US) versus Central Powers (Germany, Austria-Hungary and Ottoman Turkey)
  • US transformed from international debtor to creditor while Britain was under external debt
  • In US recovery was quicker with strong growth in 1920s was due to mass production
  • Ford - “best cost cutting decision”
  • Great Depression - 1930s - by 1933 over 4,000 banks had closed and between 1929 and 1932 about 110,000 companies had collapsed
  • India՚s export and imports halved between 1928 and 1934 & wheat prices fell by 50 %
  • 2nd WW - after 2 decades of WW I - between Axis powers (mainly Nazi Germany, Japan and Italy) and the Allies (Britain, France, the Soviet Union and the US) for 6 years on land, sea and air - 60 million people were killed (3 % of world population) - many civilians died due to war related causes - cities destroyed, economic devastation and social disruption occurred

Two Crucial Influences Shaped Post-War Reconstruction

  • US՚s emergence as the dominant economic, political and military power in the Western world.
  • 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

Lessons from Inter-War Period

  • Industrial society based on mass production cannot survive unless there is mass consumption (which requires high and stable income and stable employment)
  • Government must step in to minimize fluctuations in price, output and 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 of member nations
  • International Bank for Reconstruction and Development (or World Bank as was known) was set up to finance postwar reconstruction
  • IMF & World Bank were called Bretton Woods Twins

Developing nations organized themselves into group of 77 nations or G-77 for New International Economic Order (NIEO)

Fixed and floating exchange rates

Rise of MNCs - spread

- Published/Last Modified on: January 9, 2020

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