Q.3:- Write a note to explain the effects of the following
(a) The British Government’s decision to abolish the Corn Laws.
(b) The coming of rinderpest to Africa.
(c) The death men of working age in Europe because of the World War.
(d) The Great Depression on the Indian Economy.
(e) The decision of MNCs to relocate production to Asian countries.
(a) After the abolition of the Corn Laws, food could be imported into Britain more cheaply than it could be produced within the country. Due to this, farmers did not grow corn, leaving the land uncultivated. This resulted in unemployment on a large scale and the people started migrating from England to America and Australia looking for work.
(b) The coming of rinderpest to Africa caused a loss of livelihood for countless Africans. Rinderpest was a cattle plague spread by Asian cattle taken to Africa by the European colonisers. The disease infected the African cattle, which died in thousands. This virtually destroyed the African economic system based on cattle and land. Africans who worked rearing cattle were unemployed and forced to earn their livelihood by working in mines and on plantations set up by the Europeans, Using this situation to their advantage, colonizing nations conquered and subdued Africa by monopolizing scarce cattle resources to force Africans into the labour market.
(c) After the First World War, most men of working age were either maimed or dead. These deaths and injuries reduced the workforce of able bodied people with fewer members in the family. This household income declined after the war.
(d) The Great Depression immediately affected Indian trade. In the 20th century, India became an exporter of agricultural goods and importer of manufactured goods. Her export and import nearly halved between 1928-34. As international prices crashed, prices in India also plunged. Peasants and farmers were worst hit. Colonial rulers refused to reduce the land revenue.
(e) Wages are relatively low in Asian countries due to excess supply of workers and a lower standard of living. Most of these economies have low cost structure. Most of these countries have a huge market. The low cost structure of these economies enabled mass production at a much lower cost. It led to a stimulation of world trade and capital flow. It benefited the Asian countries by increase of employment and a quick economic transformation.