The Making of Global World Class 10 IMP Notes Social Science History Chapter 4

The Making of Global World Class 10 Notes Social Science History Chapter 4

I. Introduction

   A. Definition of trade as the exchange of goods and services between people, firms, or countries.

   B. Global interconnectedness through trade in ancient times, linking the Indus Valley civilization with West Asia.

   C. Christopher Columbus's discovery of America through sea exploration.

II. First World War

   A. The war's global extent, spanning Europe, Asia, Africa, and the Pacific.

   B. Impact on Britain's dominance in the Indian market and the rise of the nationalist movement.

   C. Economic consequences such as external debts, unemployment, and decline in cotton production.

III. 'Chutney music'

   A. Cultural fusion between Trinidad, Guyana, and India.

   B. Expression of the post-indenture experience.

IV. Role of the Silk route

   A. Historical trade routes connecting Asia with Europe and Northern Africa.

   B. Exchange of goods like Chinese silk, pottery, textiles, spices, and precious metals.

   C. Cultural diffusion through the spread of Buddhism.

V. Indentured labor as a new system of slavery

   A. Reasons for migration and exploitation of indentured laborers.

   B. Deception, harsh working conditions, deductions from wages, and lack of legal rights.

VI. Corn Laws and their effects

   A. Introduction of Com Laws to protect British landowners' profits by imposing duties on imported corn.

   B. Abolition leading to unemployment in the agricultural sector and a rise in the capitalist class.

VII. European attraction to Africa

   A. Africa's resources of land and minerals attracting Europeans.

   B. Weakening of African societies and inability to resist European military aggression.

VIII. Cultural exchange through food

   A. Introduction of food crops during trade and travel.

   B. Examples of common foods originating from America, China, India, and Italy.

IX. The Great Depression in the US

   A. Agricultural overproduction leading to declining prices and income.

   B. US loan crisis causing bank failures and currency collapses.

X. NIEO (New International Economic Order)

   A. Developing nations' demand for control over resources, development assistance, fair prices, and market access.

   B. Formation of the G-77 group advocating for NIEO.

XI. Bretton Woods Agreement

   A. Aim to preserve economic stability and full employment post-World War II.

   B. Establishment of the IMF and World Bank.

   C. Western industrial powers' control over decision-making and the system being referred to as the Bretton Woods system.