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The chapter delineates the long history of globalization, emphasizing how trade, migration, and cultural exchanges have interconnected societies since ancient times. It highlights significant events and phenomena, from the Silk Routes to the impact of European colonialism, and how these factors have shaped the global economy and societal structures over centuries. The narratives encompass various elements such as the transformation of agriculture, the spread of diseases, and the development of technology and mass production, providing a comprehensive understanding of the economic dynamics that have influenced global development.
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3.2.1
A World Economy Takes Shape
This section discusses the emergence of a global economy in the nineteenth century, facilitated by changes in food production, consumption, labor migration, and the interconnections between different regions influenced by technological advancements.
References
Globalisation.pmd.pdfClass Notes
Memorization
What we have learnt
Final Test
Revision Tests
Chapter FAQs
Term: Silk Routes
Definition: A network of trade pathways that connected the East and West, facilitating the exchange of goods such as silk, pottery, and spices.
Term: Indentured Labor
Definition: A system where individuals contracted to work for a specific period, typically to repay the cost of their passage to a new country.
Term: Bretton Woods Agreement
Definition: A landmark system for monetary management established in 1944, which set rules for commercial and financial relations among the world's major industrial states.
Term: Great Depression
Definition: A severe worldwide economic depression that took place during the 1930s, characterized by a drastic decline in output, employment, and trade.
Term: Multinational Corporations (MNCs)
Definition: Companies that operate in multiple countries beyond their home country, often seeking lower operational costs and new markets.