3 marks question please give easy answer
explain the three types of flow within the international economic exchange during 1815-1914
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The three types of movement or flows within the international economics exchange are trade flows, human capital flows and capital flows or investments. This can be explained as-the trade in agricultural products, migration of labour and financial loans to an from other nations,
I) The flow of trade ( trade in good,e.g cloth or wheat):—ndia was hub of trade in the pre-modernworld, and it exported textiles and species in return for gold and silver from Europe. Many different foods such as potatoes, soya, groundnuts, maize, tomatoes, chilies and sweet potatoes came to India from the Americas after columbus discovered it. Fine cotton's produced in India were exported to Europe. With industrialization, British cotton manufacture began to expand, and industrialist pressureized the government to restrict cotton imports and protect local industries. Tariffs were imposed on cloth imports and Britain. Consequently the info of fine India cotton began to decline.
2) The flow of labour(the migration of people in search of employment):- In the field of labour, indentured labour was provided for mines, plantations and factories abroad, in huge number, in the nineteenth century. This was an instrument of colonial domination by the British. Indentured labour were hired under contacts with promised return travel to India after they had worked five years on their employer's plantation. Nineteenth century indenture has been described as a new system of slavery. Their living and working condition were harsh, and there were five legal rights.
3) The movement of capital investment:- Lastly Britain took generous loan from U.S.A to finance the world war. Silence India was an English colony, the impact of these loan debts was felt in India too. Food and other crops for the world market required capital. Large plantations could borrow it from banks and markets. Shikaripuri, Shroffs and Nattukottai Chettiars were amongst the many groups of Bankers and traders who financed export agriculture in central and Southeast Asia, using either their own funds or those borrowed from European Banks. Indian traders and money lenders also followed European colonizers into Africa. Hyderabadi Sindhi traders, however, ventured beyond European colonies. From the 1860s they established flourishing emporia at busy ports Worldwide. Selling local and imported curious to tourists. The British government increased taxes, interest rates are lowered the prices of products it bought from the colony. Indirectly but strongly, this affected the Indian economy and people. All three flows were closely interlinked and affected people's lives.
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