Conquest, Disease And Trade

The Making Of Global World of Class 10

Conquest, Disease And Trade

  •  In 16th century after European sailors found a sea route to Asia, they discovered America.
  •  The Indian subcontinent had been known for bustling trade with goods, people, customs and knowledge . It was a crucial point in their trade network.
  •  After the discovery of America, its vast lands and abundant crops and minerals began to transform trade and lives everywhere.
  •  Precious metals, particularly silver from mines located in Peru and Maxico enhanced Europe’s wealth and financed its trade with Asia.
  •  The Portuguese and Spanish conquest and colonization of America was under way. The most powerful weapon of the Spanish conquerors was not a conventional military weapon but germs of small pax which they carried. America’s original inhabitants had no immunity against such type of diseases.


  •  Abolition of the Corn law.
  •  Under pressure from lauded groups the government restricted the import of food grains.
  •  After the corn laws were scrapped, food could be imported into Britain more cheaply than it could be produced in the country.
  •  British farmers were unable to compete with imports. Vast areas of land were left uncultivated.
  •  As food prices fell, consumption in Britain rose.
  •  Faster industrial growth in Britain led to higher incomes and more food imports.


  •  To deal with external surpluses and deficits a conference was held in July 1944 at Bretton woods in New Hampshire U.S.A.
  •  International Monetary fund and world Bank were set up to finance post war reconstruction.
  •  The past war international economic system is known as Bretton woods systems.
  •  This system was based on fixed exchange rates.
  •  IMF and World Bank are referred as Bretton Woods Twins.
  •  U.S has an effective right of veto over key IMF and World Bank.


  •  Most developing countries did not benefit from the fast growth of Western economies in 1950’s & 60’s.
  •  They organized themselves as a group. The group of 77 or G-77 to demand a new international economic order (NIEO).
  •  It was a system that would give them real control over their natural resources more development assistance, fairer prices for raw materials and better access for their manufactured goods in developed countries markets.
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