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What characterized free-standing companies during the nineteenth century?
What characterized free-standing companies during the nineteenth century?
In which sector were most free-standing companies predominantly found?
In which sector were most free-standing companies predominantly found?
What was a crucial factor for reducing trade risks in the 17th century?
What was a crucial factor for reducing trade risks in the 17th century?
How was uncompensated seizure of property viewed in the context of international law during the 19th century?在 19 世纪的国际法背景下，如何看待无偿扣押财产的行为？
How was uncompensated seizure of property viewed in the context of international law during the 19th century?在 19 世纪的国际法背景下，如何看待无偿扣押财产的行为？
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What drove the enforcement of property rights by European governments globally during the 19th century?
What drove the enforcement of property rights by European governments globally during the 19th century?
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What was a significant outcome of the Mexican nationalization of foreign oil companies in 1938?
What was a significant outcome of the Mexican nationalization of foreign oil companies in 1938?
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What economic policy trend emerged after World War I among various countries?
What economic policy trend emerged after World War I among various countries?
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Which act significantly increased US tariffs in June 1930?
Which act significantly increased US tariffs in June 1930?
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How did the Great Depression affect international trade?
How did the Great Depression affect international trade?
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What was one of the first measures taken by the United States regarding immigration during World War I?
What was one of the first measures taken by the United States regarding immigration during World War I?
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What was the decline in real wage dispersion实际工资差距下降 between 1870 and 1910?
What was the decline in real wage dispersion实际工资差距下降 between 1870 and 1910?
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Which country officially abolished slavery last among those mentioned?哪个国家最后正式废除奴隶制
Which country officially abolished slavery last among those mentioned?哪个国家最后正式废除奴隶制
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During which period were around four million individuals sent globally as indentured laborers?
During which period were around four million individuals sent globally as indentured laborers?
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Which nation was forced to open its borders due to American naval intervention in 1853?
Which nation was forced to open its borders due to American naval intervention in 1853?
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By 1913, how many inhabitants居民 did the British Empire have compared to its population?
By 1913, how many inhabitants居民 did the British Empire have compared to its population?
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Which European countries occupied substantial parts占据了相当大的部分 of Africa during the nineteenth century?
Which European countries occupied substantial parts占据了相当大的部分 of Africa during the nineteenth century?
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Which region was NOT listed as a destination for indentured laborers?
Which region was NOT listed as a destination for indentured laborers?
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What was one outcome of the United States' occupation of Cuba and the Philippines?
What was one outcome of the United States' occupation of Cuba and the Philippines?
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Which region was the dominant source of world Foreign Direct Investment (FDI) in 1914?
Which region was the dominant source of world Foreign Direct Investment (FDI) in 1914?
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What was a key factor that allowed companies like Siemens and Singer to expand abroad successfully?
What was a key factor that allowed companies like Siemens and Singer to expand abroad successfully?
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What proportion of world FDI was invested in natural resources by 1914?
What proportion of world FDI was invested in natural resources by 1914?
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Which of the following industries was NOT mentioned as being part of multinational manufacturing by 1914?
Which of the following industries was NOT mentioned as being part of multinational manufacturing by 1914?
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What was a common misconception about early cross-border transfers of knowledge?
What was a common misconception about early cross-border transfers of knowledge?
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What was the primary focus of firms such as Siemens and Singer when first venturing abroad第一次出国创业?
What was the primary focus of firms such as Siemens and Singer when first venturing abroad第一次出国创业?
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Which of the following was NOT a significant host economy for FDI in 1914?
Which of the following was NOT a significant host economy for FDI in 1914?
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What aspect of organizational form did firms exhibit企业表现出组织形式的哪些方面 when expanding across borders?
What aspect of organizational form did firms exhibit企业表现出组织形式的哪些方面 when expanding across borders?
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What significant event followed the prolonged period of warfare between 1790 and 1815?
What significant event followed the prolonged period of warfare between 1790 and 1815?
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What economic change contributed to the increased stimulation有助于增加刺激 of international trade?
What economic change contributed to the increased stimulation有助于增加刺激 of international trade?
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Which monetary system significantly reduced foreign exchange risks during the period?
Which monetary system significantly reduced foreign exchange risks during the period?
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By the late nineteenth century, how was international trade growing compared to world output?
By the late nineteenth century, how was international trade growing compared to world output?
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What was London's role in the monetary system during this period?
What was London's role in the monetary system during this period?
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What impact did falling steerage costs驾驶成本下降 have on immigration in the 19th century?
What impact did falling steerage costs驾驶成本下降 have on immigration in the 19th century?
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What percentage of the U.S. population was foreign-born by 1900?
What percentage of the U.S. population was foreign-born by 1900?
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What was a characteristic feature of international travel during the 19th century?
What was a characteristic feature of international travel during the 19th century?
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What economic policy did the United States begin to shift towards in the 1880s?
What economic policy did the United States begin to shift towards in the 1880s?
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Which policy did Australia implement in 1901 that affected immigration?
Which policy did Australia implement in 1901 that affected immigration?
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What resulted from the severe recession that occurred post-World War I第一次世界大战后发生的严重衰退?
What resulted from the severe recession that occurred post-World War I第一次世界大战后发生的严重衰退?
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By what percentage did US real GDP fall between 1929 and 1933 during the Great Depression?
By what percentage did US real GDP fall between 1929 and 1933 during the Great Depression?
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What caused the sharp falls in real incomes for producer countries生产国实际收入急剧下降 during the 1930s?
What caused the sharp falls in real incomes for producer countries生产国实际收入急剧下降 during the 1930s?
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What effect did the abandonment of the Gold Standard have on the international monetary system?
What effect did the abandonment of the Gold Standard have on the international monetary system?
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What phenomenon followed the Russian Revolution in 1917 regarding foreign-owned properties?
What phenomenon followed the Russian Revolution in 1917 regarding foreign-owned properties?
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What was a significant characteristic of the international economy during the Great Depression?
What was a significant characteristic of the international economy during the Great Depression?
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Study Notes
Chapter 2: Multinational and Globalization
- This chapter examines the creation and evolution of the first global economy, highlighting key factors
- The Industrial Revolution: External circumstances greatly aided the growth of trade
- Imperialism: Forced movement of people as slaves and significant labor mobility occurred
- Rapid increase in cross-border flows of capital: Few restrictions existed, and the Gold Standard was widely adopted, making Britain the center of global finance
- Unprecedented mobility of labor: Over 60 million Europeans emigrated to the Americas by the late 1800s; falling steerage (the cheapest type of passage) costs made this possible
- Forced movement of people as slaves: Slavery continued in the United States until the 1860s, and in Brazil until 1888. Forced labor grew in Asia to work in plantations in the Caribbean, Africa, and elsewhere.
- External Circumstances Favored the Growth of Trade: End of protracted warfare greatly stimulated international trade; the shift toward more liberal economic policies also aided this. Tariff levels fell, and transport costs decreased significantly.
- The Growth of Multinationals: Development of new forms of business organization to facilitate cross-border business operations
- International Trade: Natural resources and food supplies were rapidly discovered and exploited; by 1914, complex manufacturing enterprises were in widespread operation in a wide range of goods, including chemicals, pharmaceutical products, machinery, motor cars, etc.
- Foreign Direct Investment (FDI): Western Europe (particularly Britain) was the key source of global FDI in 1914
- Diversity of Organizational Form: Companies grew in scale by taking advantage of global opportunities, undertaking value-added activities abroad; managerial and technical expertise aided these firms in sustaining investments.
- Policy Environment: Absence of major international wars helped reduce risks and cross-border issues; the spread of international property law guaranteed property rights
- The Drivers of Multinational Growth: Modern economic growth spurred a search for new raw materials and markets. Key advancements (in technology) created the need and tools for multinational firms. The creation of things like railways, seafaring, and telegraphs also increased the speed at which businesses could operate globally
- Globalization Challenged and Reversed (1914-1950): World War I marked the start of the end of the first global economy, with shifts in trade protectionism, backlash against immigration, and the emergence of global instability and economic shocks (like the Great Depression).
- Backlash Against the Global Economy: The nationality of firms became an issue as governments sequestrated enemy-owned companies; the rise of protectionism, work restrictions, and immigration barriers increased, as countries sought to protect their own industries and citizens.
- Trade Protectionism Spread: Trade protectionism significantly increased after World War I; tariffs, import quotas, and other barriers were used heavily to encourage domestic industries.
- Backlash Against Area of Migration: The use of passports became more widespread as well as work restrictions, and stricter immigration policies impacted international movement of peoples.
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Description
Test your knowledge on key events and trends in international economic history, focusing on free-standing companies, property rights, trade policies, and the Great Depression. Explore how global economic policies evolved throughout the 19th and early 20th centuries and their lasting impacts. This quiz covers significant historical developments that shaped modern economies.
