CBSE Class 10 History Chapter 3 Notes - The Making of a Global World

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The Making of a Global World Class 10 Notes History Chapter 3 - PDF Download

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When we talk about globalisation, we generally mean a world connected with the internet, television and aeroplanes. However, globalisation is not a modern phenomenon. From time immemorial, people have moved from one place to another in search of knowledge and prospects. The Making of Global World notes by Vedantu will give a detailed account of the movement of the people across the world and how it paved the way for what we know as globalisation. Download the revision notes PDF to get a comprehensive overview of The Making of Global World Class 10 Chapter 3.

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FAQ (Frequently Asked Questions)

Q1. What Form did Globalisation Take During the World Wars?

Ans. The World Wars and the ensuing years can be summarized in the below sequence:

  • During the first World War, most of the powerful countries were at loggerheads with each other.

  • The war resulted in Europe’s loss of financial dominance. In turn, the US became the primary creditors to these European countries.

  • The repercussions of the war led to a great economic crisis in Europe.

  • Meanwhile, in the US, industries flourished with the emergence of visionaries like Henry Ford.

  • Consumption increased in the US. People bought many modern consumer goods.  The housing and construction sector benefited hugely.

  • In 1929, this economic boom became bearish and the US slipped into a great depression. So, the US stopped being the primary creditor to the world. This made the economies of other countries worse.

  • In India too, import and exports were deeply affected by the depression.

  • The Second World war harmed the world economy further.

  • It was realised that in order to keep an economy strong, people should have continuous buying power. For that, there should be stable jobs.

  • The IMF and World Bank were created to help the world recover from the devastation of the war (financial).

Q2. How did the Globalisation Come to be What it is Now?

Ans. As the colonised countries gained independence, they had to depend on these institutions for loans. Later, the countries were forced to take loans from Western private banks and lenders. As the US became embroiled in overseas wars, its financial dominance decreased. Meanwhile, companies searched for countries where there were low wages. China fit the description. So, a number of manufacturing hubs were set up in China aimed at bringing the manufacturing cost down. India, too, became a great outsourcing destination for the tech companies.