The Three Movements or Flows Within International Economic Exchange Essay Example

and financial loans between nations. India has historically played a crucial part in trade by exporting textiles and spices to Europe in exchange for gold and silver. Additionally, after Columbus discovered the Americas, India benefitted from the introduction of various foods such as potatoes, soya, groundnuts, maize, tomatoes, chillies, and sweet potatoes.

In the nineteenth century, the British extensively utilized indentured labor to establish colonial dominance. This involved employing workers for mines, plantations, and factories abroad. Moreover, as England ruled over India at that time, the consequences of loan debts incurred from the United States during World War I impacted India as well. Consequently, the British government imposed higher taxes and interest rates on India while also lowering prices for goods purchased from the colony. These actions indirectly but significantly affected both the Indian economy and its population.