Describe three types of movements or flows within international economic exchanges in the nineteenth century. What were its effects ?
(a) The economists identify three types of movement or flows within international economic exchanges. These are as mentioned below : The first is the flow of trade which is referred largely to trade in goods e.g., cloth or wheat. The second is flow of labour – the migration of people in search of employment. The third is the movement of capital for short-term or long-term investments over long distances. (b) All these flows were closely interwoven and affected people’s lives more deeply now than ever before. The interconnection could sometimes be broken, for example, labour migration was often restricted than goods or capital flows.
