The Making of a Global World

Globalisation koi naya concept nahi hai; iski roots pre-modern world mein hain. Log, goods, ideas, aur diseases hamesha se travel karte aaye hain.

Pre-modern World mein Globalisation

• Ancient Trade Routes:
• 3000 BCE: Indus Valley Civilisations aur West Asia ke beech coastal trade.
• Cowries (seashells as currency) Maldives se China aur East Africa tak.
• Disease-carrying germs ka spread 7th century se, 13th century tak clear link.
• Silk Routes:
• Vibrant pre-modern trade aur cultural links ka best example.
• Name Origin: West-bound Chinese silk cargoes ki importance se.
• Extent: Land aur sea routes, Asia ko Europe aur North Africa se jodte the.
• Timeline: Christian Era se pehle exist karte the aur 15th century tak thrive kiya.
• Goods Exchanged: Chinese pottery, Indian aur Southeast Asian textiles & spices. Europe se precious metals (gold, silver) Asia aate the.
• Cultural Exchange: Early Christian missionaries, Muslim preachers, aur Buddhism ka spread inhi routes se hua.

Food Travels: Cultural Exchange through Crops

• Long-distance cultural exchange ka proof food items mein milta hai.
• Noodles & Spaghetti: Believe kiya jaata hai ki noodles China se West jaakar spaghetti bane, ya Arab traders pasta ko 5th century Sicily laaye.
• New World Crops:
• Christopher Columbus ke America discover karne ke baad, Europe aur Asia mein kayi naye crops aaye.
• Examples: Potatoes, soya, groundnuts, maize, tomatoes, chillies, sweet potatoes.
• Impact: Europe ke poor log better khaane lage aur lamba jeene lage, especially potato ki wajah se.
• Negative Impact: Ireland mein potato crop failure (mid-1840s) se lakho log bhookh se mare (Irish Potato Famine).

Conquest, Disease aur Trade

• 16th Century: European sailors ne Asia ke liye sea route aur America ko cross kiya, jisse world 'shrink' ho gaya.
• Indian Ocean: Pehle se bustling trade route tha, Indian subcontinent central point tha.
• America ka 'Discovery':
• Millions of years tak rest of the world se cut off tha.
• 16th century se, iske vast lands, abundant crops aur minerals ne global trade aur lives ko transform kiya.
• Precious Metals: Peru aur Mexico se silver ne Europe ki wealth badhayi aur Asia ke saath trade finance kiya.
• El Dorado: South America ke fabled wealth ke legends ne expeditions ko encourage kiya.
• European Conquest of America:
• Portuguese aur Spanish ne mid-16th century tak America ko colonise karna shuru kar diya.
• Most Powerful Weapon: Superior firepower nahi, balki germs, especially smallpox.
• Impact of Smallpox: America ke original inhabitants mein immunity nahi thi. Smallpox ne poori communities ko khatam kar diya, conquest ka raasta saaf kiya.
• European Migration: 18th century tak, Europe mein poverty, hunger, crowded cities, diseases, aur religious conflicts common the. Thousands fled Europe to America.
• Plantations: America mein African slaves se cotton aur sugar ki kheti karayi jaati thi European markets ke liye.
• China ka Isolation: 15th century se China ne overseas contacts restrict kiye, jisse world trade ka centre westwards move ho gaya, aur Europe prominent bana.

19th century mein duniya mein profound changes aaye, jismein economic, political, social, cultural aur technological factors ne complex tareeke se interact kiya.

Three Types of Flows in International Economic Exchanges

Economists ne 19th century mein international economic exchanges mein teen tarah ke movements ya 'flows' identify kiye:

1. Trade Flow: Goods ka movement. 19th century mein mostly cloth aur wheat jaise goods ka trade hota tha.
2. Labour Flow: Employment ki search mein people ka migration.
3. Capital Flow: Short-term ya long-term investments ke liye money ka movement over long distances.

• Ye teeno flows closely interwoven the aur logon ki lives ko pehle se zyada affect karte the.

A World Economy Takes Shape: Corn Laws aur Food Production

• Britain mein Food Demand: Late 18th century se population growth ne Britain mein food grains ki demand badhayi.
• Corn Laws: Landed groups ke pressure mein, government ne corn import par restrictions lagayi thi.
• Abolition of Corn Laws: Industrialists aur urban dwellers ne high food prices ke khilaaf protest kiya, jiske baad Corn Laws ko abolish kar diya gaya.
• Impact of Abolition:
• Food imports saste ho gaye, British agriculture compete nahi kar payi.
• Vast agricultural lands uncultivated reh gaye, thousands of workers jobless ho gaye.
• Log cities ki taraf ya overseas migrate karne lage.
• Global Agricultural Economy:
• Mid-19th century se Britain mein industrial growth aur higher incomes se food imports badhe.
• Eastern Europe, Russia, America, aur Australia mein lands clear kiye gaye aur food production badhayi gayi British demand ko meet karne ke liye.
• Infrastructure Development: Railways ne agricultural regions ko ports se joda, naye harbours bane, aur settlements develop hue.
• Capital aur Labour: London jaise financial centres se capital flow hua. America aur Australia jaise labour-shortage areas mein migration badha.
• Nearly 50 million people Europe se America aur Australia migrate kiye 19th century mein.
• Canal Colonies (West Punjab): British Indian government ne irrigation canals banaye, semi-desert areas ko fertile agricultural lands mein badla wheat aur cotton export ke liye. Peasants ko yahan settle kiya gaya.
• Trade Expansion: 1820 aur 1914 ke beech world trade 25 se 40 times multiply hua. Iska 60% 'primary products' (agricultural goods, minerals) the.

Role of Technology

Technology ne global economy ke shaping mein crucial role play kiya:

• Key Inventions: Railways, steamships, telegraph ne 19th century world ko transform kiya.
• Colonisation ka Impact: Colonisation ne transport mein investments aur improvements ko stimulate kiya (faster railways, lighter wagons, larger ships).
• Meat Trade Example:
• 1870s tak, animals ko live America se Europe ship kiya jaata tha, jismein space zyada lagta tha aur animals mar jaate the ya kharab ho jaate the.
• Meat expensive luxury tha.
• Refrigerated Ships: Nayi technology ne perishable foods ko long distances tak transport karna possible banaya.
• Animals ko starting point (America, Australia, New Zealand) par slaughter karke frozen meat ke roop mein Europe transport kiya jaane laga.
• Impact: Shipping costs kam hue, meat prices gire, European poor ko varied diet mili (bread aur potatoes ke saath meat, butter, eggs).
• Better living conditions ne social peace badhayi aur imperialism ko support mila.

Late 19th-century Colonialism

• Darker Side of Expansion: Trade expansion aur world economy se closer relationship ka matlab kayi jagahon par freedoms aur livelihoods ka loss tha.
• European Conquests: Colonised societies mein painful economic, social aur ecological changes aaye.
• Scramble for Africa:
• 1885 mein Berlin mein European powers ki meeting hui Africa ko carve up karne ke liye.
• Britain aur France ne apne overseas territories badhaye. Belgium aur Germany naye colonial powers bane.
• US bhi 1890s mein colonial power bana, Spain se colonies lekar.
• Impact: Africa ke borders ruler se draw kiye gaye jaise lagte hain, jo European powers ne apne hisaab se banaye the.
• Sir Henry Morton Stanley: Journalist aur explorer, jiske explorations ne Africa ki conquest mein help ki. Geographical explorations innocent scientific search nahi the, balki imperial projects se directly linked the.

Rinderpest, or the Cattle Plague

• Context: 1890s mein Africa mein cattle plague (Rinderpest) ka devastating impact hua.
• Africa ki Situation: Historically, Africa mein abundant land aur small population thi. Log land aur livestock par depend karte the, wage ke liye kaam nahi karte the.
• European Interest: Europeans Africa ke vast resources (land, minerals) ke liye attracted the, plantations aur mines establish karna chahte the.
• Problem: Labour shortage, kyunki Africans wage ke liye kaam nahi karna chahte the.
• Methods to Recruit Labour:
• Heavy taxes lagaye gaye jo sirf wage work se pay ho sakte the.
• Inheritance laws change kiye gaye, jisse peasants ko land se displace kiya gaya (sirf ek member ko inherit karne ki permission).
• Mineworkers ko compounds mein confine kiya gaya.
• Arrival of Rinderpest:
• Late 1880s mein Africa mein aaya, British Asia se import kiye gaye infected cattle se, jo Italian soldiers ko feed karne ke liye the.
• East Africa se Atlantic coast tak 'forest fire' ki tarah faila, 1892 tak.
• 90% cattle ko maar diya.
• Impact of Rinderpest:
• African livelihoods destroy ho gayi.
• Planters, mine owners aur colonial governments ne bache hue scarce cattle resources par monopolise kiya, apni power badhayi aur Africans ko labour market mein force kiya.
• Cattle par control ne European colonizers ko Africa ko conquer aur subdue karne mein help ki.

Indentured Labour Migration from India

• Nineteenth-century world ka two-sided nature: Faster economic growth, par great misery; high incomes for some, poverty for others; technological advances, par new forms of coercion.
• Indentured Labour:
• Indian aur Chinese labourers ko plantations, mines, road aur railway construction projects mein kaam karne ke liye recruit kiya gaya.
• Contract: 5 saal kaam karne ke baad return travel ka promise.
• Origin: Eastern UP, Bihar, Central India, dry districts of Tamil Nadu.
• Reasons for Migration: Cottage industries decline, land rents increase, lands cleared for mines/plantations, poverty, debt.
• Destinations: Caribbean islands (Trinidad, Guyana, Surinam), Mauritius, Fiji, Ceylon, Malaya, Assam (tea plantations).
• Recruitment: Agents dwara kiya jaata tha, jo false information dete the about destinations, work nature, conditions.
• 'New System of Slavery': Conditions harsh thi, legal rights kam the.
• Survival Strategies: Wilds mein escape, new forms of cultural expression.
• Cultural Fusion: Trinidad mein Muharram procession 'Hosay' carnival mein transform hua. Rastafarianism, 'Chutney music' examples hain.
• Ye cultural fusion global world ke making ka part hai, jahan cheezein mix hokar naya banati hain.
• After Contract: Most workers stay kar gaye ya short spell ke baad wapas aaye. Isse Indian descent ke large communities bane (e.g., V.S. Naipaul, Shivnarine Chanderpaul).
• Abolition: 1900s mein Indian nationalist leaders ne is system ko oppose kiya aur 1921 mein abolish kar diya gaya.

Colonial rule ke under India ka global system mein integration complex aur often exploitative tha.

Indian Entrepreneurs Abroad

• Financing Export Agriculture:
• Shikaripuri Shroffs aur Nattukottai Chettiars jaise Indian bankers aur traders ne Central aur Southeast Asia mein export agriculture ko finance kiya.
• Apne funds ya European banks se borrowed funds use karte the.
• Money transfer ke sophisticated systems develop kiye.
• Following Colonisers: Indian traders aur moneylenders European colonisers ke saath Africa gaye.
• Hyderabadi Sindhi Traders: European colonies se bhi aage badhe. 1860s se inhone busy ports par flourishing emporia establish kiye, tourists ko local aur imported curios bechte the.

Indian Trade, Colonialism aur Global System

• Decline of Indian Textiles:
• Historically, India ke fine cottons Europe export hote the.
• Industrialisation ke saath, British cotton manufacture expand hua, aur industrialists ne government par pressure dala ki cotton imports ko restrict kare.
• Britain mein cloth imports par tariffs lagaye gaye.
• Indian fine cotton ka inflow decline hua. 1800 mein 30% se 1815 tak 15% aur 1870s tak 3% se bhi kam ho gaya.
• British manufacturers ne overseas markets search kiye, jisse Indian textiles ko stiff competition mila.
• Shift in Exports:
• Manufactures ke exports decline hue, par raw materials ke exports increase hue.
• 1812 aur 1871 ke beech raw cotton exports 5% se 35% tak badhe.
• Indigo: Dyeing cloth ke liye important export.
• Opium: 1820s se China ko opium shipments India ka single largest export ban gaya.
• Britain ne India mein opium grow kiya, China ko export kiya, aur us paise se China se tea aur other imports finance kiye.
• Trade Surplus with India:
• 19th century mein British manufactures ne Indian market ko flood kar diya.
• Food grain aur raw material exports India se Britain aur rest of the world increase hue.
• British exports to India ki value, British imports from India ki value se bahut zyada thi.
• Britain ka India ke saath 'trade surplus' tha.
• Multilateral Settlement System: Britain ne is surplus ko dusre countries ke saath apne trade deficits ko balance karne ke liye use kiya.
• India ne late-19th-century world economy mein crucial role play kiya, Britain ke deficits ko balance karne mein help karke.
• 'Home Charges': Britain ke trade surplus ne 'home charges' ko bhi pay kiya, jismein British officials aur traders ke private remittances, India ke external debt par interest payments, aur British officials ki pensions shamil thi.

First World War (1914-18) ne 20th century ke pehle half ko ek bade crisis mein dhakel diya, jisse recover hone mein teen decades lage. Is period mein widespread economic aur political instability rahi.

Wartime Transformations (WWI)

• Participants: Allies (Britain, France, Russia, later US) vs. Central Powers (Germany, Austria-Hungary, Ottoman Turkey).
• First Modern Industrial War:
• World ke leading industrial nations involved the.
• Machine guns, tanks, aircraft, chemical weapons jaise modern industrial products ka massive scale par use hua.
• Millions of soldiers recruit kiye gaye, large ships aur trains se frontlines par move kiye gaye.
• Scale of Death & Destruction: 9 million dead, 20 million injured. Most working-age men the.
• Europe mein able-bodied workforce kam ho gayi, household incomes decline hue.
• Economic Restructuring:
• Industries ko war-related goods produce karne ke liye restructure kiya gaya.
• Women ne men ke jobs sambhale.
• Economic links between major powers toot gaye.
• US ka Rise: Britain ne US banks aur public se bade sums borrow kiye.
• War ne US ko international debtor se international creditor mein badal diya. War ke end tak, US aur uske citizens ke paas overseas assets zyada the.

Post-war Recovery

• Britain ka Crisis: Pre-war period ki leading economy thi, par prolonged crisis face kiya.
• War ke dauran India aur Japan mein industries develop hui, jisse Britain ko Indian market mein dominance regain karna aur Japan se compete karna difficult ho gaya.
• War expenditures finance karne ke liye US se borrow kiya tha, jisse huge external debts ho gaye.
• War boom ke baad production contract hua, unemployment badha.
• Government ne war expenditures kam kiye, jisse job losses hue (1921 mein har 5 British workers mein se 1 jobless).
• Agricultural Economies ka Crisis:
• Eastern Europe pre-war mein wheat ka major supplier tha. War ke dauran supply disrupt hone par Canada, America, Australia mein wheat production dramatically expand hua.
• War ke baad Eastern Europe mein production revive hua, jisse wheat output mein glut (excess) ho gaya.
• Grain prices gire, rural incomes decline hue, farmers debt mein doob gaye.

Rise of Mass Production and Consumption

• US Recovery: War ne US economy ko boost kiya. Early 1920s mein strong growth resume hui.
• Mass Production:
• Late 19th century mein shuru hua, par 1920s mein US industrial production ka characteristic feature bana.
• Henry Ford: Car manufacturer, mass production ka pioneer.
• Assembly Line: Chicago slaughterhouse ke method ko Detroit car plant mein adapt kiya.
• Faster aur cheaper way of producing vehicles.
• Workers ko single task mechanically aur continuously repeat karna padta tha, conveyor belt ke pace par.
• Output per worker increase hua.
• T-Model Ford: World ki pehli mass-produced car.
• High Wages: Workers ke quit karne par Ford ne daily wage double kar diya ($5 in Jan 1914), par trade unions ko ban kar diya.
• Fordist Industrial Practices: US mein spread hue aur 1920s mein Europe mein copy kiye gaye.
• Impact of Mass Production:
• Engineered goods ki costs aur prices kam hue.
• Higher wages ki wajah se, zyada workers durable consumer goods (cars, refrigerators, washing machines, radios) purchase kar sakte the.
• Hire Purchase: Credit par instalments mein purchase ka system.
• Housing Boom: House construction aur home ownership mein boom aaya, loans se finance kiya gaya.
• Prosperity Cycle: Higher employment, incomes, rising consumption demand, more investment, aur zyada employment ka cycle bana.
• US as Lender: 1923 mein US ne capital export karna resume kiya aur largest overseas lender bana. US imports aur capital exports ne European recovery aur world trade ko boost kiya.
• End of Prosperity: Ye prosperity 1929 tak hi chali, jab world Great Depression mein doob gaya.

The Great Depression (1929-mid-1930s)

• Global Impact: World ke most parts mein production, employment, incomes aur trade mein catastrophic declines aaye.
• Worst Affected: Agricultural regions aur communities, kyunki agricultural prices mein fall industrial goods se zyada aur lamba tha.
• Causes:

1. Agricultural Overproduction: Prices girne par farmers ne income maintain karne ke liye production badhaya, jisse glut aur prices mein further fall hua. Produce bina buyers ke rotted.
2. Withdrawal of US Loans: Mid-1920s mein kayi countries US loans par depend karte the. Trouble ke signs par US overseas lenders panic kar gaye aur loans withdraw kar liye.

• Europe mein banks fail hue, currencies (jaise British pound sterling) collapse hui.
• Latin America mein agricultural aur raw material prices mein slump intensify hua.

1. US Protectionism: US ne apni economy protect karne ke liye import duties double kar di, jisse world trade ko aur blow laga.
2. US Domestic Crisis: US banks ne domestic lending slash kiya aur loans wapas maange.

• Farms harvests nahi bech paye, households ruin ho gaye, businesses collapse hue.
• Falling incomes ki wajah se households loans repay nahi kar paye, homes, cars, consumer durables chhodne pade.
• US banking system collapse ho gaya: 1933 tak 4,000 se zyada banks band hue, 1929-32 mein 110,000 companies collapse hui.
• Recovery: 1935 tak most industrial countries mein modest economic recovery shuru hui, par Great Depression ke wider effects enduring the.

India and the Great Depression

• Global Economy ka Integration: Depression ne dikhaya ki early 20th century tak global economy kitni integrated ho chuki thi.
• Impact on Indian Trade:
• Colonial India agricultural goods ka exporter aur manufactures ka importer tha.
• India ke exports aur imports 1928 aur 1934 ke beech nearly half ho gaye.
• International prices crash hone par India mein bhi prices gire (wheat prices 50% gire).
• Farmers aur Peasants par Impact:
• Urban dwellers se zyada suffer kiya.
• Agricultural prices girne ke bawajood, colonial government ne revenue demands kam nahi ki.
• World market ke liye produce karne wale peasants worst hit the.
• Bengal Jute Producers: Gunny exports collapse hone par raw jute prices 60% se zyada gire. Loans lekar produce karne wale peasants aur debt mein doob gaye.
• Indebtedness: Peasants ki indebtedness badhi. Savings use kiye, lands mortgage kiye, jewellery aur precious metals beche.
• Gold Exports: India precious metals, especially gold, ka exporter ban gaya. John Maynard Keynes ne socha ki Indian gold exports ne global economic recovery ko promote kiya. Britain ki recovery mein help ki, par Indian peasant ke liye kuch nahi kiya.
• Political Impact: Rural India mein unrest badha, jiske karan Mahatma Gandhi ne 1931 mein Civil Disobedience Movement launch kiya.
• Urban India: Less grim tha. Falling prices ki wajah se fixed income wale log (landowners, salaried employees) better off the. Industrial investment badha kyunki government ne tariff protection extend kiya nationalist opinion ke pressure mein.

Second World War (WWII) ne First World War ke sirf do decades baad shuru hua. Ismein Axis powers (Nazi Germany, Japan, Italy) aur Allies (Britain, France, Soviet Union, US) involved the. Death aur destruction enormous thi (60 million se zyada log mare).

Rebuilding a World Economy: The Post-war Era

• Scale of Destruction: Europe aur Asia ke vast parts devastated hue, kayi cities aerial bombardment se destroy hue.
• Two Crucial Influences on Reconstruction:

1. US ka Emergence: Western world mein dominant economic, political aur military power ke roop mein.
2. Soviet Union ka Dominance: Nazi Germany ko harane mein huge sacrifices kiye, aur Great Depression ke dauran backward agricultural country se world power mein transform hua.

Post-war Settlement and the Bretton Woods Institutions

• Lessons from Inter-war Economic Experiences:

1. Mass Production & Consumption: Industrial society mass production par tab tak sustain nahi ho sakti jab tak mass consumption na ho. Mass consumption ke liye high aur stable incomes chahiye, aur stable incomes ke liye steady, full employment zaroori hai.

• Markets alone full employment guarantee nahi kar sakte, isliye governments ko price, output aur employment mein fluctuations minimize karne ke liye intervene karna padega.

1. Economic Links with Outside World: Full employment tabhi achieve ho sakta hai jab governments ke paas goods, capital aur labour ke flows ko control karne ki power ho.

• Main Aim of Post-war International Economic System: Industrial world mein economic stability aur full employment preserve karna.
• Bretton Woods Conference (July 1944, New Hampshire, USA):
• United Nations Monetary and Financial Conference mein framework agree kiya gaya.
• International Monetary Fund (IMF): Member nations ke external surpluses aur deficits se deal karne ke liye established hua.
• International Bank for Reconstruction and Development (World Bank): Post-war reconstruction finance karne ke liye set up hua.
• 'Bretton Woods Institutions' ya 'Bretton Woods Twins': IMF aur World Bank ko kaha jaata hai.
• Financial Operations: 1947 mein shuru hui.
• Decision-making: Western industrial powers dwara control kiya jaata hai. US ke paas key decisions par effective right of veto hai.
• Bretton Woods System:
• Fixed Exchange Rates: National currencies (jaise Indian rupee) ko dollar se fixed exchange rate par peg kiya gaya tha.
• Dollar ka Anchor: Dollar khud gold se fixed price ($35 per ounce of gold) par anchored tha.

The Early Post-war Years

• Unprecedented Growth: Bretton Woods system ne Western industrial nations aur Japan ke liye trade aur incomes mein unprecedented growth ka era shuru kiya.
• 1950-1970 ke beech world trade annually 8% se zyada aur incomes nearly 5% badhe.
• Growth stable thi, kam fluctuations ke saath.
• Most industrial countries mein unemployment rate 5% se kam tha.
• Spread of Technology & Enterprise: Worldwide technology aur enterprise ka spread hua.
• Developing Countries: Advanced industrial countries se catch up karne ki jaldi mein the. Modern technology wale industrial plant aur equipment import karne mein vast capital invest kiya.

Decolonisation and Independence

• Post-WWII Scenario: World ke bade parts abhi bhi European colonial rule ke under the.
• Emergence of New Nations: Agle do decades mein Asia aur Africa ki most colonies free, independent nations ban gayi.
• Challenges for New Nations: Poverty aur resources ki kami se overburdened the, long colonial rule ne economies aur societies ko handicap kiya tha.
• Bretton Woods Institutions ka Focus Shift:
• IMF aur World Bank industrial countries ki financial needs ke liye designed the.
• Former colonies mein poverty aur lack of development ke challenge se cope karne ke liye equipped nahi the.
• Europe aur Japan ne apni economies rapidly rebuild ki, jisse unki IMF aur World Bank par dependency kam ho gayi.
• Late 1950s se Bretton Woods institutions ne apna attention developing countries ki taraf shift kiya.
• Continued Exploitation:
• Newly independent countries ko international agencies (former colonial powers dominated) ke guidance mein aana pada.
• Former colonial powers ne abhi bhi apni former colonies mein vital resources (minerals, land) control kiye.
• US jaise powerful countries ki large corporations ne developing countries ke natural resources ko cheaply exploit karne ke rights secure kiye.
• Group of 77 (G-77):
• Most developing countries ko 1950s aur 1960s mein Western economies ki fast growth se benefit nahi mila.
• Unhone apne aap ko ek group (G-77) ke roop mein organize kiya, New International Economic Order (NIEO) ki demand karne ke liye.
• NIEO ka Matlab: Natural resources par real control, zyada development assistance, raw materials ke liye fairer prices, aur developed countries ke markets mein manufactured goods ke liye better access.

End of Bretton Woods and the Beginning of ‘Globalisation’

• US Dollar ka Weakening: 1960s se US ke overseas involvements ki rising costs ne uske finances aur competitive strength ko weaken kiya.
• US dollar ne world ki principal currency ke roop mein confidence lose kiya.
• Gold ke relation mein apni value maintain nahi kar paya.
• Collapse of Fixed Exchange Rates: Isse fixed exchange rates system collapse ho gaya aur floating exchange rates system introduce hua.
• Changes in International Financial System (mid-1970s):
• Developing countries ko ab international institutions ke bajaye Western commercial banks aur private lending institutions se borrow karna pada.
• Isse developing world mein periodic debt crises, lower incomes aur increased poverty (especially Africa aur Latin America) hui.
• Unemployment in Industrial World: Mid-1970s se unemployment badha aur early 1990s tak high raha.
• MNCs ka Relocation: Late 1970s se Multinational Corporations (MNCs) ne production operations ko low-wage Asian countries mein shift karna shuru kiya.
• China ka Role: 1949 ki revolution ke baad China post-war world economy se cut off tha.
• New economic policies aur Soviet Union ke collapse ne kayi countries ko world economy mein wapas laya.
• China jaise countries mein low wages ki wajah se MNCs ke liye attractive destinations ban gaye.
• Isse world trade aur capital flows stimulate hue.
• Economic Transformation: Last two decades mein India, China aur Brazil jaise countries mein rapid economic transformation se world ki economic geography transform hui.