The 19th century global economy moved through trade, people, and money
The Silk Routes linked Asia, West Asia, and Europe for over 1,500 years
The 1929 Wall Street Crash triggered a chain reaction of economic disasters worldwide
Refrigerated ships transformed food trade and helped feed Europe's working class
The Bretton Woods agreement created the IMF and World Bank to prevent future depressions
Quick-reference table for Chapter 3 — The Making of a Global World
| Term / Event / Concept | Meaning / Significance |
|---|---|
| Silk Routes | Ancient land and sea routes connecting China, India, West Asia, and Europe; traded silk, spices, gold, and ideas |
| Three Flows (19th century) | Trade (goods), Labour (migration), and Capital (investment) — three interconnected global movements |
| Corn Laws | British laws restricting food imports; abolished in 1840s, leading to cheap food imports and mass emigration of farmers |
| Rinderpest | Cattle disease that wiped out 90% of Africa's cattle in the 1890s; Europeans used the cattle shortage to force Africans into wage labour |
| Indentured Labour | Contract workers from India sent to colonies; harsh conditions made it a "new system of slavery"; abolished 1921 |
| Shikaripuri Shroffs | Indian bankers who financed export agriculture in Central and Southeast Asia; part of India's global trade networks |
| Nattukottai Chettiars | Indian trading community that funded plantations and export agriculture in Southeast Asia and East Africa |
| India's Trade Role | India's trade surplus with Britain helped Britain pay for its imports from other countries — India was crucial to British global trade |
| World War I (1914–18) | First modern industrial war; 9 million died; transformed the USA from debtor to creditor nation; disrupted global trade |
| Henry Ford | US car manufacturer who introduced the assembly line in Detroit; pioneered mass production of the T-Model Ford |
| Great Depression (1929) | Global economic crisis starting with US stock market crash; world trade fell by 50%; mass unemployment worldwide |
| Bretton Woods (1944) | Conference that created IMF and World Bank; currencies tied to US dollar; led to 27 years of stable growth |
| IMF | International Monetary Fund — set up to help countries facing economic and currency crises |
| World Bank | Set up at Bretton Woods to lend money for rebuilding war-damaged economies and funding development |
| Refrigerated Ships | Technology that allowed frozen meat to be shipped from America and Australia to Europe; lowered prices for the poor |
Try these practice questions. Detailed answers are on the next page.
Left card = question | Right card = answer
Mind map — The Making of a Global World (Class 10, Chapter 3)