The Making of Global World

Why Is It Said That There Was No Other War Earlier Like the First World War? State in Three Points.

There was no other war earlier like the First World War because of the following reasons: 1. The First World War which took place mainly in Europe from 1914 to 1918 had a profound impact on economic and political stability which took over three decades to overcome, 2. The leading industrial nations of the world…

The Relocation of Industry to Low-wage Countries Stimulated World Trade and Capital Flows. Justify the Statement.

It is true to say that the relocation of industry to low wage countries stimulated the world trade and capital flows. From the 1970s the MNCs shifted their production operations in the low wage Asian countries where they could maximize their profits. This step of the MNCs again stimulated the world trade and capital flows.

Why Did the Household Incomes Decline After the First World War? Give Two Reasons.

The various reasons for the decline in the family income after the First World War were: 1. The large scale deaths and injuries in the First World War reduced the working age people in Europe, declined the family income and the women had to undertake jobs to run the family. 2. The First World War…

Describe the Circumstances Responsible for the Formation of G-77.

The developing countries were not benefitted from the fast growing western economies so they organized together and formed a Group of 77 which is commonly referred to as G-77 and demanded a new international economic order. Their demand for NIEO was to get the real control over their own natural resources, development assistance, and fairer…

China Became an Attractive Destination for Investment by Foreign MNCs in the Nineteenth and Twentieth Century. Justify the Statement.

It is true to say that in the 19th and 20th century, China became an attractive destination for investment by the foreign MNCs. This is due to the following reasons: MNCs shifted their production units to low wage countries like China by the late 1870s. Due to the highly skilled people in large numbers it…

How Did the Withdrawal of US Loans During the Phase of the Great Depression Affect the Rest of the World? Explain in Three Points.

During the First World War, the US financed through loans a number of countries. The withdrawal of US loans affected the rest of the world in the following three ways: 1. It caused the failure of some major banks and collapse of currencies in Europe. 2. The banks in US slashed domestic lending and called…

Explain Any Three Types of Flows Within the International Economy in Exchanges.

There were three types of movements or flows noticed by the economist in the international market. 1. Flow of trade in which there was large scale trade of goods such as clothes and food stuffs. 2. Flow of labour in which the people migrated from one place to another in large numbers in search of…

How Did Technology Help to Solve Hardship of Food Availability Throughout the World in the Late-Nineteenth Century? Explain With Example.

Railways, ports, harbours and settlements were developed in America and Australia for the smooth supply of food stuffs and for the industrial raw materials. Now the food was grown by the low paid agricultural workers and transported from thousands of miles through railways and ships. To solve the problems of this meat trade, refrigerated ships…