G-77 countries is an abbreviation for the group of 77 countries that demanded a new international economic order (NIEO); a system that would give them real control over their natural resources, without being victims of neo-colonialism, that is, a new form of colonialism in trade practised by the forRead more
G-77 countries is an abbreviation for the group of 77 countries that demanded a new international economic order (NIEO); a system that would give them real control over their natural resources, without being victims of neo-colonialism, that is, a new form of colonialism in trade practised by the former colonial powers.
The G-77 can be seen as a reaction to the activities of the Bretton Woods twins (the International Monetary Fund and the World Bank) because these two institutions were designed to meet the financial needs of industrial and developed countries, and did nothing for the economic growth of former colonies and developing nations.
The Great Depression was a result of many different factors. The post-war global economy was weak. Also, agricultural over-production proved to be a nuisance, which was made worse by falling food grain prices. To counter this, farmers began to increase production and bring even more produce to the mRead more
The Great Depression was a result of many different factors. The post-war global economy was weak. Also, agricultural over-production proved to be a nuisance, which was made worse by falling food grain prices. To counter this, farmers began to increase production and bring even more produce to the markets to maintain their annual incomes. This led to such a glut of food grains that prices plummeted further and farm produce was left to rot. Most countries took loans from the US, but American overseas lenders were wary about the same. When they decreased the amount of loans, the countries economically dependent on US loans faced an acute crisis. In Europe, this led to the failure of major banks and currencies such as the British pound sterling. In a bid to protect the American economy, USA doubled import duties. This worsened the world trade scenario. All these factors contributed to the Great Depression. It affected USA the worst on account of its being a global loan provider and the biggest industrial nation.
The three types of movements or flows within the international economic exchange are trade flows, human capital flows and capital flows or investments. These can be explained as—the trade in agricultural products, migration of labour, and financial loans to and from other nations. India was a hub ofRead more
The three types of movements or flows within the international economic exchange are trade flows, human capital flows and capital flows or investments. These can be explained as—the trade in agricultural products, migration of labour, and financial loans to and from other nations.
India was a hub of trade in the pre-modern world, and it exported textiles and spices in return for gold and silver from Europe. Many different foods such as potatoes, soya, groundnuts, maize, tomatoes, chillies and sweet potatoes came to India from the Americas after Columbus discovered it.
In the field of labour, indentured labour was provided for mines, plantations and factories abroad, in huge numbers, in the nineteenth century. This was an instrument of colonial domination by the British.
Lastly, Britain took generous loans from USA to finance the World War. Since India was an English colony, the impact of these loan debts was felt in India too. The British government increased taxes, interest rates, and lowered the prices of products it bought from the colony. Indirectly, but strongly, this affected the Indian economy and people.
Indentured Indian labourers in the Carribbean—facts—signed a contract stating that they would return to India after working for five years at a plantation; belonged to eastern Uttar Pradesh, Bihar, central India and the dry districts of Tamil Nadu; migrants took up the overseas jobs hoping to escapeRead more
Indentured Indian labourers in the Carribbean—facts—signed a contract stating that they would return to India after working for five years at a plantation; belonged to eastern Uttar Pradesh, Bihar, central India and the dry districts of Tamil Nadu; migrants took up the overseas jobs hoping to escape poverty and oppression in their home villages; migrants were not even informed about the long sea voyages, and some unwilling ones were abducted as well; also known as “the new system of slavery”; harsh living and working conditions; few legal rights; many escaped into the wilds; some developed new art forms for expression; some returned home after the contract period, while others stayed on
The Bretton Woods Agreement was finalised in July 1944 at Bretton Woods in New Hampshire, USA. It established the International Monetary Fund and the World Bank to preserve global economic stability and full employment in the industrial world. These institutions also dealt with external surpluses anRead more
The Bretton Woods Agreement was finalised in July 1944 at Bretton Woods in New Hampshire, USA. It established the International Monetary Fund and the World Bank to preserve global economic stability and full employment in the industrial world. These institutions also dealt with external surpluses and deficits of member nations, and financed post-war reconstructions.
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 an abbreviation for the group of 77 countries that demanded a new international economic order (NIEO); a system that would give them real control over their natural resources, without being victims of neo-colonialism, that is, a new form of colonialism in trade practised by the forRead more
G-77 countries is an abbreviation for the group of 77 countries that demanded a new international economic order (NIEO); a system that would give them real control over their natural resources, without being victims of neo-colonialism, that is, a new form of colonialism in trade practised by the former colonial powers.
The G-77 can be seen as a reaction to the activities of the Bretton Woods twins (the International Monetary Fund and the World Bank) because these two institutions were designed to meet the financial needs of industrial and developed countries, and did nothing for the economic growth of former colonies and developing nations.
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Explain the causes of the Great Depression.
The Great Depression was a result of many different factors. The post-war global economy was weak. Also, agricultural over-production proved to be a nuisance, which was made worse by falling food grain prices. To counter this, farmers began to increase production and bring even more produce to the mRead more
The Great Depression was a result of many different factors. The post-war global economy was weak. Also, agricultural over-production proved to be a nuisance, which was made worse by falling food grain prices. To counter this, farmers began to increase production and bring even more produce to the markets to maintain their annual incomes. This led to such a glut of food grains that prices plummeted further and farm produce was left to rot. Most countries took loans from the US, but American overseas lenders were wary about the same. When they decreased the amount of loans, the countries economically dependent on US loans faced an acute crisis. In Europe, this led to the failure of major banks and currencies such as the British pound sterling. In a bid to protect the American economy, USA doubled import duties. This worsened the world trade scenario. All these factors contributed to the Great Depression. It affected USA the worst on account of its being a global loan provider and the biggest industrial nation.
For more answers visit to website:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/
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 trade flows, human capital flows and capital flows or investments. These can be explained as—the trade in agricultural products, migration of labour, and financial loans to and from other nations. India was a hub ofRead more
The three types of movements or flows within the international economic exchange are trade flows, human capital flows and capital flows or investments. These can be explained as—the trade in agricultural products, migration of labour, and financial loans to and from other nations.
India was a hub of trade in the pre-modern world, and it exported textiles and spices in return for gold and silver from Europe. Many different foods such as potatoes, soya, groundnuts, maize, tomatoes, chillies and sweet potatoes came to India from the Americas after Columbus discovered it.
In the field of labour, indentured labour was provided for mines, plantations and factories abroad, in huge numbers, in the nineteenth century. This was an instrument of colonial domination by the British.
Lastly, Britain took generous loans from USA to finance the World War. Since India was an English colony, the impact of these loan debts was felt in India too. The British government increased taxes, interest rates, and lowered the prices of products it bought from the colony. Indirectly, but strongly, this affected the Indian economy and people.
For more answers visit to website:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/
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.
Indentured Indian labourers in the Carribbean—facts—signed a contract stating that they would return to India after working for five years at a plantation; belonged to eastern Uttar Pradesh, Bihar, central India and the dry districts of Tamil Nadu; migrants took up the overseas jobs hoping to escapeRead more
Indentured Indian labourers in the Carribbean—facts—signed a contract stating that they would return to India after working for five years at a plantation; belonged to eastern Uttar Pradesh, Bihar, central India and the dry districts of Tamil Nadu; migrants took up the overseas jobs hoping to escape poverty and oppression in their home villages; migrants were not even informed about the long sea voyages, and some unwilling ones were abducted as well; also known as “the new system of slavery”; harsh living and working conditions; few legal rights; many escaped into the wilds; some developed new art forms for expression; some returned home after the contract period, while others stayed on
For more answers visit to website:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/
What is meant by the Bretton Woods Agreement?
The Bretton Woods Agreement was finalised in July 1944 at Bretton Woods in New Hampshire, USA. It established the International Monetary Fund and the World Bank to preserve global economic stability and full employment in the industrial world. These institutions also dealt with external surpluses anRead more
The Bretton Woods Agreement was finalised in July 1944 at Bretton Woods in New Hampshire, USA. It established the International Monetary Fund and the World Bank to preserve global economic stability and full employment in the industrial world. These institutions also dealt with external surpluses and deficits of member nations, and financed post-war reconstructions.
For more answers visit to website:
See lesshttps://www.tiwariacademy.com/ncert-solutions/class-10/social-science/