(Solution) 12 QUESTIONS: Global Exchange System (GES) 1) By Definition The GES Emerged When There Was A. Economic Interconnectivity In The World B. Trade Impact... | Snapessays.com


(Solution) 12 QUESTIONS: Global Exchange System (GES) 1) By definition the GES emerged when there was a. Economic interconnectivity in the world b. Trade impact...


Please help me answer the 12 questions in the attached Word document and I have attached a pdf with background information on this subject. Thank you so much!!12 QUESTIONS:

 

Global Exchange System (GES)

 

1)

 

By defni±on the GES emerged when there was

 

a.

 

Economic interconnec±vity in the world

 

b.

 

Trade impact on engaged par±es

 

c.

 

Con±nuous exchange in values suFcient ²or cri±cal impact on all major inhabited

 

con±nents

 

d.

 

Direct or indirect trade between trade partners

 

2)

 

Judging ²rom the characteris±cs o² the GES one could argue that it was in ²ull swing by the year

 

1300 because

 

a.

 

Trade partners were interdependent and the volume was suFcient enough

 

b.

 

Although transporta±on and communica±on was slow and broken in segments, there

 

were strategic commodi±es, such as spice, going the ²ull length o² the exchange

 

c.

 

Large –volume exchange was gradually elimina±ng diversity and imposing standard trade

 

pa³erns across the board

 

d.

 

The long term exchange was evenly balanced and par±cipant society and cultures were

 

interconnected through small volumes o² high value goods.

 

3)

 

The ²actors that were most important ²or interconnec±ng the circuits o² the GES by 1300 were

 

a.

 

Consumer driven, since higher living standards in the Western exchange circuit

 

generated taste ²or goods and the ability to a´ord them

 

b.

 

Technological, ²or the ability to produce goods and ship and sel²-market them abroad

 

ma³ered most in the exchange

 

c.

 

Climate, ²or transporta±on was mostly under sail and land travel was arduous.

 

d.

 

Demographic, because the largest partner, China, needed to export all the ±me

 

4)

 

The GES emerged as 3 trade circuits linked up in the 11

 

th

 

century, but some were more

 

vulnerable to ²ailure, ²or example

 

a.

 

The middle east since it was the carrying middleman without industrial capacity and at

 

the mercy o² the elements

 

b.

 

China, since it depended on con±nuous exports across vast sea or desert expanses and

 

the peace or war condi±ons on its western ²ron±ers

 

c.

 

Western Europe, since it had no reserve o² precious metals to pay and depended on the

 

middle easterners (Arabs and Persians) as middle men and carriers

 

d.

 

All o² the segments, ²or they operated in condi±ons o² underdeveloped transporta±on

 

technology.

 

5)

 

Silver became the principal strategic commodity o² the Global Exchange System (GES) aµer the

 

early 1500s because

 

a.

 

It became widely available aµer the opening o² the New World mines and the industrial

 

exploita±on o² silver mining in Japan

 

b.

 

China introduced the “single-whip” tax system in the early 1570s

 

c.

 

The western sea²aring na±ons (Portugal, Spain, then Holland and England) now had the

 

technological capacity to carry it sa²ely over large distances

 

d.

 

The European demand o² Eastern commodi±es sky-rocketed.

 

6)

 

The most important development in the post-1500s as a discrete system is best illustrated by

 

a.

 

The emergence o² silver as principal value carrying commodity

 

b.

 

The seizure o² the high seas commerce by the Europeans and the opening o² direct link

 

to the ¶ar East via the Indian Ocean.

 

c.

 

The emergence o² China as a major consumer market

 


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This question was answered on: May 23, 2022

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