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The Making of Global World Summary Class 10 Social Science Chapter 2

Introduction

  • Globalisation is an economic system associated with the free movement of goods, technology, ideas and people across the globe.

Section I: Pre Modern World


The Making of Global World Summary Class 10 Social Science Chapter 2Silk Routes

  • There are several silk routes, over land and by sea, knitting together vast regions of Asia, and linking Asia with Europe and northern Africa.
    • Famous Chinese silk cargoes used to travel through these routes.

Food Travels: Spaghetti and Potato

  • Noodles travelled west from China to become spaghetti.
  • Common foods such as potatoes, soya, groundnuts, maize, tomatoes, chillies, sweet potatoes were only introduced in Europe and Asia after Christopher Columbus discovered Americas.

Conquest, Disease and Trade

  • Precious metals from mines of Peru and Mexico enhanced European trade with Asia.
  • The Spanish conquerors used the germs of smallpox in the conquest of America.
  • Until well into the eighteenth century, China and India were among the world’s richest countries.
  • Until the nineteenth century, poverty and hunger were common in Europe.

Section II: The Nineteenth Century (1815-1914)

  • In the late eighteenth century, growth in the population increased the demand for food grains in Britain.
  • The imported food into Britain more cheaply than it could be produced within the country.
  • Industrial growth took place in Britain which led to higher incomes meaning more food imports.
  • It was transported by railway and by ships.
  • Food is only an example. Products such as cotton, rubber, coal also had same fate.

Role of Technology

  • The railways, steamships, the telegraph were important inventions that transformed nineteenth-century world.
  • After the introduction of new technology, namely, refrigerated ships animals were slaughtered for food at the starting point and then transported to Europe as frozen meat.

Late nineteenth-century Colonialism

  • European conquests of Asia and Africa as colonies.
  • Belgium and Germany became new colonial powers.
  • The US became a colonial power in the late 1890s by taking over some colonies earlier held by Spain.

Rinderpest, or the Cattle Plague

  • Rinderpest is a fast spreading cattle plague which hit Africa in the late 1880s.
  • It was carried by infected cattle imported from British Asia and destroyed 90 percent of the livestock.
  • The colonial governments now strengthen their power and to force Africans into the labour market.

Indentured Labour Migration from India

  • Indentured Labour was a bonded labourer under contract to work for an employer.
  • In the nineteenth century, thousands of Indian and Chinese labourers went to work on plantations, in mines, and in road and railway construction projects around the world.
  • Recruitment was done by agents by providing false information about the work and location.
  • On arrival at the plantations, labourers found living and working conditions harsh.
  • It was abolished in 1921.

Indian Entrepreneurs Abroad

  • Indian entrepreneurs, some bankers like Nattukottai and Chettiars financed export of agriculture to Central and South-East Asia.
    • They even followed the Europeans to Africa.
  • Industrial Revolution in England changed the balance of trade between England and India.
  • Indian handicraft and agriculture were destroyed and Britain enjoyed a trade surplus with India.
    • Their exports increased and imports decreased.

Section III: The Inter-war Economy

  • The First World war was the first modern industrial war.
  • During the war, industries were restructured to produce war-related goods.
  • The war transformed the US from being an international debtor to an international creditor.

Post-war Recovery

  • After the war was over, the production reduced and unemployment increased.

Rise of Mass Production and Consumption

  • In the US, war recovery was quicker.
  • ‘Assembly line’ method introduced by Henry Ford soon spread to the US and were also widely copied in Europe in the 1920s.
  • Mass production lowered the costs and prices of engineered goods.
  • There was a housing and consumer boom in the 1920s, which ultimately led to the Great Depression of 1929.
  • Markets crashed in 1929 and led to the failure of banks and the crisis affected other countries.
    • By 1933, over 4000 banks closed and between 1929-32 about 110,000 companies collapsed.

India and the Great Depression

  • India was also affected by the  Great  Depression.
  • Indian exports and imports declined extensively, prices fell.
  • Bengal jute growers suffered the most.
  • Large scale migration took place from villages to towns and cities.

Section IV: Rebuilding a World Economy: The Post-war Era

  • The Second World War broke out a mere two decades after the end of the First World War and once again, it led to destruction.
  • After the USA and the USSR emerged as superpowers.

Post-war Settlement and the Bretton Woods Institutions

  • To ensure a stable economy a framework was agreed upon at the United Nations Monetary and Financial Conference held at Bretton Woods in New Hampshire, USA.
  • It established the International Monetary Fund (IMF) and the World Bank.
  • The International Monetary Fund (IMF) to deal with external surpluses and deficits of its member nations.
  • The International Bank for Reconstruction and Development (popularly known as the World Bank) was set up to finance post-war reconstruction.
  • The IMF and the World Bank commenced financial operations in 1947.
  • Bretton Woods  System was based on a fixed exchange rate.
  • National currencies were pegged to the American dollar at a fixed rate.
  • Decision-making in these institutions is controlled by the Western industrial powers largely by the US.

Decolonisation and Independence

  • Many countries in Asia and Africa became independent nations, supported by UNO and NAM.
  • Group of 77 or G-77 was organised by developing countries to demand a new international economic order (NIEO) which would give these countries real control over their national resources, raw materials, manufactured goods in their markets.
  • MNCs or multinational companies were established in the 1950s and 1960s and operated in several countries.
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FAQs on The Making of Global World Summary Class 10 Social Science Chapter 2

1. What is the significance of the making of the global world?
Ans. The making of the global world refers to the process of globalization, which has led to the interconnectedness and interdependence of countries and people around the world. It has facilitated the exchange of goods, services, ideas, and culture on a global scale, leading to economic growth, technological advancements, and cultural diffusion.
2. How did globalization impact the world economy?
Ans. Globalization has had a significant impact on the world economy. It has led to the expansion of international trade, allowing countries to access a wider market for their products and services. It has also facilitated the flow of capital and investment across borders, leading to economic growth and development. However, it has also resulted in increased competition, job displacement, and income inequality in some regions.
3. What were the major drivers of globalization?
Ans. Several factors have contributed to the process of globalization. Technological advancements, particularly in transportation and communication, have made it easier for people and goods to move across borders. Trade liberalization, through the reduction of trade barriers and the establishment of international trade agreements, has also facilitated globalization. Additionally, the growth of multinational corporations and the spread of global financial systems have played a significant role in driving globalization.
4. How has globalization impacted cultural exchange?
Ans. Globalization has facilitated the exchange and diffusion of cultures around the world. Through increased travel, migration, and the spread of media and technology, people from different cultures have been able to interact and learn from one another. This has led to the adoption of new cultural practices, the fusion of different cultural elements, and the preservation of cultural diversity. However, there are concerns about the homogenization of cultures and the erosion of traditional customs and values.
5. What are some of the challenges posed by globalization?
Ans. Globalization has brought about various challenges. One of the major challenges is the widening income inequality between different countries and within societies. Globalization has also resulted in job displacement and the loss of traditional industries in some regions. Additionally, environmental degradation, cultural homogenization, and the exploitation of labor in developing countries are other significant challenges associated with globalization.
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