Introduction
History of globalisation: Silk Route, colonialism, Great Depression, Bretton Woods institutions.
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Global Economy
Silk Route: ancient trade. Colonialism: raw materials from colonies, manufactures from Europe. Great Depression(1929): global economic crisis. Bretton Woods(1944): IMF and World Bank. Post-war decolonisation.
Key Points
- •Silk Route connected Asia, Europe, Africa
- •Colonialism created unequal global economy
- •Great Depression: mass unemployment worldwide
- •Bretton Woods: IMF, World Bank, fixed exchange rates
- •Decolonisation: new nations post-1945
Quick Summary
- ✓Silk Route: ancient globalisation
- ✓Great Depression: global crisis
- ✓Bretton Woods: IMF and World Bank
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