the making of a global world

World war 1

1914-1918

World war 1 power blocs

Allies and central powers

Allies of WW1

Britain France and Russia

Central powers

Germany, Austria-Hungary and ottoman turkey

World war 1 destruction

9 million dead and 20 million injured

World war 1 introduced the use of

Machine guns,tanks, aircrafts and chemical weapons

Assembly line form of mass production adapted by

Henry ford

Great Depression

1929 to mid 1930s

World war 2

2 decades after world war 1 and lasted 6 years

Power blocs of WW2

Axis powers and the Allies

Allies of WW2

Britain, France, the Soviet Union and US

Axis powers of WW2

Mainly Nazi Germany, Japan and Italy

Bretton woods conference established

International monetary fund

World bank aka

International bank for reconstruction and development

Bretton woods institutions/Bretton woods twins

The International Monetary Fund and the world bank

The US has a right of veto

Over IMF AND WORLD BANK DECISIONS

IMF and world bank commenced financial operations in

1947

MNC

Multinational corporations

Tariffs

Tax imposed on a country's imports from the rest of the world. Levied at the point of entry e.g airport

Exchange rates

They link national currencies for international trade

Fixed exchange rates

When exchange rates are fixed and the govt intervenes to prevent their fluctuation

Flexible/floating exchange rates

These rates fluctuate depending on demand and supply of currencies in foreign exchange markets,without interference of the govt.

When was the IMF established

July 1944

Where was the IMF established

At the United Nations monetary and financial conference at Bretton woods in New Hampshire USA

International Monetary Fund deals with

External surpluses and deficits of its member nations

World bank was setup to

Finance post war reconstruction

The Bretton woods system is

The post war international economic system based on fixed exchange rates

What's G-77

G-77 or Group-77 was a group of developing countries which demanded a new international economic order

NIEO

New international economic order

What's the international monetary system

It's the system linking national currencies and the monetary system

What are the 'home charges'

Includes private remittances home by British officials and traders,interest payment on external debt and pensions of British officials in india

War boom

A large increase in demand, production and employment

Plantation agriculture

Growing a single crop over a vast area

Mother of industrialization

England

Where and when did the European powers meet to divide Africa

1885 in Berlin

Cowries

A form of currency derived from the word cowdi meaning seashell

Silk routes

Example of premodern trade and cultural links between different parts of the world

Goods transported over the silk route

Silk, spices, textiles and gold. Even Buddhism spread through the silk routes

When did a disease destroy a potato crop in Ireland

Mid 1840s

Some of Europes trade with Asia was financed by

Silver mines in Peru and Mexico

Dissenter

One who does not believe in beliefs and practices

What are the silk routes

A network of routes connecting Asia, Europe and Northern Africa

Where were the canal colonies

West Punjab

In the canal colonies

Irrigation canals were made to convert the desert wastelands to fertile lands

In what year did rinderpest kill the African cattle

In the 1890s 90% of the cattle died thus forcing more Africans to work for wages

Indentured labour

Bonded labour for a specific period of time to pay off ones passage to a new country or home

Descendants of indentured workers are known as

Coolies

2 West Indies cricketers who are descendants of indentured workers

Shivnarine chanderpaul and ramnaresh sarwan

Where did most indian indentured workers come from

Present day regions of Uttar Pradesh, Bihar and dry districts of Tamil nadu

Main destinations of Indian indentured migrants

Caribbean islands, Mauritius and fiji

Caribbean islands includes

Trinidad, Guyana and Surinam

Indentured labourers were

Lied to about their destination, transport and working conditions

V.S Naipaul

Was a descendant from indentured workers in Trinidad. He's a Nobel prize winning writer

Chutney music

Was popular in Trinidad and guyana

In Trinidad

The annual Muharram procession was transformed into a riotous carnival called hosay for all races and religions

Rastafarianism

, a protest religion, is said to reflect social and cultural links with Indian migrants in the caribbean

Tamil migrants went to

Ceylon and malaya

Define globalization

It refers to an economic system that has emerged to due trade, migration of people in search of employment and movement of capital

Global exchange that took place in Asia

Noodles travelled from China to India and italy

Global exchange example from America

Potatoes travelled from the Americas to ireland

Who settled in the canal colonies

Peasants from Punjab settled here. Wheat and cotton was grown here for export