Despite years of stable and rapid growth, not all was well in this post-war world. From the 1960s the rising costs of its overseas involvements weakened the US’s finances and competitive strength. The US dollar now no longer commanded confidence as the world’s principal currency. It could not maintaRead more
Despite years of stable and rapid growth, not all was well in this post-war world. From the 1960s the rising costs of its overseas involvements weakened the US’s finances and competitive strength. The US dollar now no longer commanded confidence as the world’s principal currency. It could not maintain its value in relation to gold. This eventually led to the collapse of the system of fixed exchange rates and the introduction of a system of floating exchange rates.
Exchange rates – They link national currencies for purposes of international trade. There are broadly two kinds of exchange rates: fixed exchange rate and floating exchange rate. Fixed exchange rates – When exchange rates are fixed and governments intervene to prevent movements in them. Flexible orRead more
Exchange rates – They link national currencies for purposes of international trade. There are broadly two kinds of exchange rates: fixed exchange rate and floating exchange rate.
Fixed exchange rates – When exchange rates are fixed and governments intervene to prevent movements in them.
Flexible or floating exchange rates – These rates fluctuate depending on demand and supply of currencies in foreign exchange markets, in principle without interference by governments.
The industrial world was also hit by unemployment that began rising from the mid-1970s and remained high until the early 1990s. From the late 1970s MNCs also began to shift production operations to low-wage Asian countries. China had been cut off from the post-war world economy since its revolutionRead more
The industrial world was also hit by unemployment that began rising from the mid-1970s and remained high until the early 1990s. From the late 1970s MNCs also began to shift production operations to low-wage Asian countries. China had been cut off from the post-war world economy since its revolution in 1949. But new economic policies in China and the collapse of the Soviet Union and Soviet-style communism in Eastern Europe brought many countries back into the fold of the world economy. Wages were relatively low in countries like China. Thus they became attractive destinations for investment by foreign MNCs competing to capture world markets. Have you noticed that most of the TVs, mobile phones, and toys we see in the shops seem to be made in China? This is because of the low-cost structure of the Chinese economy, most importantly its low wages. The relocation of industry to low-wage countries stimulated world trade and capital flows. In the last two decades the world’s economic geography has been transformed as countries such as India, China and Brazil have undergone rapid economic transformation.
The Congress under the leadership of Mahatma Gandhi tried to channel people’s grievances into organised movements for independence. Through such movements the nationalists tried to forge a national unity. But as we have seen, diverse groups and classes participated in these movements with varied aspRead more
The Congress under the leadership of Mahatma Gandhi tried to channel people’s grievances into organised movements for independence. Through such movements the nationalists tried to forge a national unity. But as we have seen, diverse groups and classes participated in these movements with varied aspirations and expectations. As their grievances were wide-ranging, freedom from colonial rule also meant different things to different people. The Congress continuously attempted to resolve differences, and ensure that the demands of one group did not alienate another. This is precisely why the unity within the movement often broke down. The high points of Congress activity and nationalist unity were followed by phases of disunity and inner conflict between groups.
Gandhiji had designed the Swaraj flag. It was again a tricolour(red, green and white) and had a spinning wheel in the centre, representing the Gandhian ideal of self-help. Carrying the flag, holding it aloft, during marches became a symbol of defiance. Another means of creating a feeling of nationalRead more
Gandhiji had designed the Swaraj flag. It was again a tricolour(red, green and white) and had a spinning wheel in the centre, representing the Gandhian ideal of self-help. Carrying the flag, holding it aloft, during marches became a symbol of defiance. Another means of creating a feeling of nationalism was through reinterpretation of history. By the end of the nineteenth century many Indians began feeling that to instill a sense of pride in the nation, Indian history had to be thought about differently. The British saw Indians as backward and primitive, incapable of governing themselves. In response, Indians began looking into the past to discover India’s great achievements. They wrote about the glorious developments in ancient times when art and architecture, science and mathematics, religion and culture, law and philosophy, crafts and trade had flourished. This glorious time, in their view, was followed by a history of decline, when India was colonised. These nationalist histories urged the readers to take pride in India’s great achievements in the past and struggle to change the miserable conditions of life under British rule.
How the introduction of a system of floating exchange rates?
Despite years of stable and rapid growth, not all was well in this post-war world. From the 1960s the rising costs of its overseas involvements weakened the US’s finances and competitive strength. The US dollar now no longer commanded confidence as the world’s principal currency. It could not maintaRead more
Despite years of stable and rapid growth, not all was well in this post-war world. From the 1960s the rising costs of its overseas involvements weakened the US’s finances and competitive strength. The US dollar now no longer commanded confidence as the world’s principal currency. It could not maintain its value in relation to gold. This eventually led to the collapse of the system of fixed exchange rates and the introduction of a system of floating exchange rates.
See lessWhat is meant by the exchange rate, fixed exchange rate, flexible of fixed exchange rate?
Exchange rates – They link national currencies for purposes of international trade. There are broadly two kinds of exchange rates: fixed exchange rate and floating exchange rate. Fixed exchange rates – When exchange rates are fixed and governments intervene to prevent movements in them. Flexible orRead more
Exchange rates – They link national currencies for purposes of international trade. There are broadly two kinds of exchange rates: fixed exchange rate and floating exchange rate.
See lessFixed exchange rates – When exchange rates are fixed and governments intervene to prevent movements in them.
Flexible or floating exchange rates – These rates fluctuate depending on demand and supply of currencies in foreign exchange markets, in principle without interference by governments.
How you can say that the industrial world was also hit by unemployment? Explain with a example.
The industrial world was also hit by unemployment that began rising from the mid-1970s and remained high until the early 1990s. From the late 1970s MNCs also began to shift production operations to low-wage Asian countries. China had been cut off from the post-war world economy since its revolutionRead more
The industrial world was also hit by unemployment that began rising from the mid-1970s and remained high until the early 1990s. From the late 1970s MNCs also began to shift production operations to low-wage Asian countries. China had been cut off from the post-war world economy since its revolution in 1949. But new economic policies in China and the collapse of the Soviet Union and Soviet-style communism in Eastern Europe brought many countries back into the fold of the world economy. Wages were relatively low in countries like China. Thus they became attractive destinations for investment by foreign MNCs competing to capture world markets. Have you noticed that most of the TVs, mobile phones, and toys we see in the shops seem to be made in China? This is because of the low-cost structure of the Chinese economy, most importantly its low wages. The relocation of industry to low-wage countries stimulated world trade and capital flows. In the last two decades the world’s economic geography has been transformed as countries such as India, China and Brazil have undergone rapid economic transformation.
See lesswhat was emerging was a nation with many voices wanting freedom from colonial rule?
The Congress under the leadership of Mahatma Gandhi tried to channel people’s grievances into organised movements for independence. Through such movements the nationalists tried to forge a national unity. But as we have seen, diverse groups and classes participated in these movements with varied aspRead more
The Congress under the leadership of Mahatma Gandhi tried to channel people’s grievances into organised movements for independence. Through such movements the nationalists tried to forge a national unity. But as we have seen, diverse groups and classes participated in these movements with varied aspirations and expectations. As their grievances were wide-ranging, freedom from colonial rule also meant different things to different people. The Congress continuously attempted to resolve differences, and ensure that the demands of one group did not alienate another. This is precisely why the unity within the movement often broke down. The high points of Congress activity and nationalist unity were followed by phases of disunity and inner conflict between groups.
See lessExplain the meaning of Indian flag?
Gandhiji had designed the Swaraj flag. It was again a tricolour(red, green and white) and had a spinning wheel in the centre, representing the Gandhian ideal of self-help. Carrying the flag, holding it aloft, during marches became a symbol of defiance. Another means of creating a feeling of nationalRead more
Gandhiji had designed the Swaraj flag. It was again a tricolour(red, green and white) and had a spinning wheel in the centre, representing the Gandhian ideal of self-help. Carrying the flag, holding it aloft, during marches became a symbol of defiance. Another means of creating a feeling of nationalism was through reinterpretation of history. By the end of the nineteenth century many Indians began feeling that to instill a sense of pride in the nation, Indian history had to be thought about differently. The British saw Indians as backward and primitive, incapable of governing themselves. In response, Indians began looking into the past to discover India’s great achievements. They wrote about the glorious developments in ancient times when art and architecture, science and mathematics, religion and culture, law and philosophy, crafts and trade had flourished. This glorious time, in their view, was followed by a history of decline, when India was colonised. These nationalist histories urged the readers to take pride in India’s great achievements in the past and struggle to change the miserable conditions of life under British rule.
See less