Practice question · Sort into groups
First globalisation or second globalisation (post-1980)?
Groups: First (1870-1914) · Second (post-1980)
- Mass migration of 60 million Europeans
- Sterling convertible at a fixed gold price
- ICT and the internet connecting markets
- Container shipping and global value chains
Hints
- One era moved people and capital; the other moves goods and information.
- Fixed and floating exchange rates separate them.
Show the answer
First (1870-1914): Mass migration of 60 million Europeans, Sterling convertible at a fixed gold price
Second (post-1980): Container shipping and global value chains, ICT and the internet connecting markets
Why
The first globalisation moved people and capital under gold; the second moved goods and information under floating rates and containerisation.
Practise The Gold Standard and Globalization
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