Practice question · Select all that apply
Which features characterised the first globalisation (1870-1914)?
Hints
- Three flows expanded: people, capital and goods.
- Exchange rates were fixed by definition under this system.
Show the answer
- A. Massive transatlantic migration
- C. Falling transport costs due to steamships and railways
- D. British capital financing overseas infrastructure
Why
Migration, capital flows, and cheap transport, yes. But exchange rates were fixed (gold standard), not floating.
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