The three benefits of refrigerated ships were: 1. There was trade in meat till the 1870s from America to Europe. The cattle were slaughtered after they reach the destination. There were number of problems in carrying the five animals into the ships such as they took lot of space, many died on the way, fell…
The year 1929 was called the year of Great Depression which lasted till mid-1980s. Production, employment, income and trade declined all over the world due to which the agricultural regions and communities were worst affected because the prices of the agricultural products declined sharply and for long period than the Price fall in the industrial…
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…
Railways, ports, harbours and settlements were developed in America and Australia for the smooth supply of food stuffs and for the industrial raw materials. A network of irrigation canals was built in India in the Punjab region for converting the semi-arid wastelands into fertile cultivable lands. All these developments throughout the world was possible due…
The Portuguese and the Spanish conquered America not just with the conventional military weapons but also with the germs such as the small pox. The small pox was carried on their person (Spanish invaders were immune to this disease) to America for which the American Indians were not immune to and proved a deadly weapon…
Before the First World War, Britain was the world’s leading economy but after the war Britain was over burdened with external debts. In the meantime, industries in India and Japan developed a lot. Due to these conditions it became difficult for Britain to get its dominance over India back and compete with Japan internationally. ‘…
There were several silk routes over land and sea which helped in trade and cultural links between the different countries of the world especially Asia, North Africa and Europe. The silk routes got its name due to the Chinese silk cargoes along these routes which were actively functional before the Christian era and upto the…
There were three types of movements or flows noticed by the economist in the international market. Flow of trade in which there was large scale trade of goods such as clothes and food stuffs. Flow of labour in which the people migrated from one place to another in large numbers in search of employment. Flow…
Rinderpest was a disease of cattle plague spreading fastly in Africa in the 1880s. It had terrible impact on the livelihood and the local economy in Africa. This disease was carried by the infected cattlewhich were imported from the British Asia in order to feed the Italian soldiers who were deputed for invading Eritrea in…