Discuss the factors that led to the end of Bretton Woods System and the beginning of Globalization.
OR
Describe the life of the workers in Victorian Britain.
OR
How did the concept of 'Garden City' come up in London ? Describe the different efforts initiated to beautify London.
CBSE Class X Social Science LA (5 Marks)
Answers
. (i) US dollar no longer commanded confidence.
(ii) US dollar could not maintain its value in relation to gold.
(iii) Collapse of fixed exchange rates on floating exchange rates.
(iv) International financial system changed, and developing countries were forced to borrow from Western Commercial Banks.
(v) Industrial world was hit by unemployment.
(vi) MNCs turned to China due to its low wages.
OR
(i) Labour was in abundance.
(ii) Job opportunities were few.
(iii) Job seekers who came from villages had to spend the night under bridges or in night shelters and they had no place to stay in the city.
(iv) Much of the work was seasonal in nature such as book binding.
(v) Wages were low and life was difficult when prices of goods in the city rose sharply.
(vi) Workers had to look for odd jobs when they could not find proper employment in factories.
OR
(i) The widespread use of coal in homes and industries in the 19th century England raised serious problems. Shopkeepers, home owners and others complained about the black fog, grey skies and black vegetation. All these factors caused bad temper, smoke related illness and dirty clothes. Congestion in the city also led to a yearning for the clean air.
(ii) As a result, the demand for new 'lungs' for the city was made. Large blocks of apartments were built and rent control was introduced to ease the housing problem.
(iii) 'Garden City' of New Earswick was designed with common garden spaces and landscaping.
(iv) Between the two World Wars (1919-39), the responsibility for housing for the working classes was accepted by the British state and million houses, most of which were single family cottages, were built by local authorities.
(v) The British government built single family cottages for the working classes and the London underground work was started to enable the workers to reach their work places.
(i) A decline in economic power of the USA.
(ii) Change in the international financial system.
(iii) Unemployment in industrialized countries.
(iv) Shifting of production enterprises.
(v) Changes in China.
(i) Decline in economic power of the USA :
(a) US dollar no longer commanded confidence.
(b) US dollar could not maintain its value in relation to gold.
(c) A collapse of fixed exchange rates on floating exchange rates.
(ii) Change in the international financial: The International Monetary Fund and the World Bank were created to meet the financial needs of the industrial countries. The international financial system changed, and developing countries were forced to borrow from western commercial banks.
(iii) Unemployment in industrialized countries: Industrial world was hit by unemployment. The number of unemployed started rising and people
trudged long distances looking for any work they could find.
(iv) Shifting to production enterprises:MNCs shifted their production units to Asian countries because of cheap labor and low wages.
(v) Changes in China: China became an attractive destination for investment by foreign MNCs