Economically, the Silk Road had a colossal effect on the world’s economy which established how and where most of the major imports and exports go. More often than not, the economics of whole
During the time period between 300 C.E. and 1450 C.E., the Silk Road served the same purpose while experiencing diminutive changes. For example, the items exchanged between these civilizations changed over time because of advancements in technology with new innovations being bartered. The Silk Road always aided trade and circulated goods between Arabian, Chinese, Greek, Indian, Persian, and Roman civilizations. The end of the Era of Division through the Sui dynasty (300-618), the Tang dynasty (618-907), and the Song, Yuan, and Ming dynasties (907-1450) were three key periods of time that the Silk Road flourished and altered the most.
It has affected the mindsets of people, the way they think and react. It is globalization that has consolidated the world over communication. This is the reason why when people increasingly migrate or travel to far away countries now; they do not have the sense of fear of the unknown anymore. They already know what to expect because the globalization has brought all of us together. Globalization is the reason how the westernization of the naïve cultures took place.
I will show that when looking at trade and economics within the towns and cities we can see the transformation of society within the Middle Ages. The growth of towns and cities meant an increase of existing towns and the new establishment of the new towns and cities. Between the Norman Conquest and the 1300s more than one hundred and twenty five towns were founded in England. Fairs and Markets increased during the medieval England and it became a type of business, a franchise was needed in order for a market of a fair to exist. A franchise of fair or market could only be exercised by right of a grant from the crown or by the authority of parliament.
In the eleventh and twelfth centuries, however, new elements were introduced that began to transform the economic foundation of Western Civilization: a revival of trade, considerable expansion in the circulation of money, the emergence of specialized craftspeople and artisans, and the growth and development of towns. The revival of commercial activity was a gradual process. During the chaotic conditions of the Early Middle Ages, large-scale trade had declined in Western Europe except for Byzantine contacts with Italy and Jewish traders who moved back and forth between the Muslim and Christian worlds. By the end of the tenth century, however, people with both the skills and the products for commercial activity were emerging in Europe. Venice sent wine, grain, and timber to Constantinople in exchange for silk cloth, which was then peddled to other communities.
In my opinion, it is this evolutionary journey that precisely and inexorably makes globalization a seemingly natural process. The concept of continuity further supports globalization as a natural process. In fact, as we learned in Globalization 101: “Globalization is not new. For thousands of years, people—and, later corporations—have been buying from and selling to each other in lands at great distances, such as through the famed Silk Road across Central Asia. Likewise, for
Maythu Hnin World History II May 26th, 2009 What was the significance of the Silk Road? The Silk Road was an international and intercontinental network of trade routes that existed throughout the 2nd-15th century. Although initially started to serve for trade purposes, the Silk Road is more prominently remembered for its cultural significance and the cultural exchange that occurred across Eurasia. The Silk Road can be defined as the fundamental exchange of cultured that occurred through trade routes. One must note that although this cultural exchange was highly supported and encouraged, it was not always accepted willingly.
In the context of global trade law, critically examine the challenges and opportunities facing developing states within the complex global institutions and legal construct of WTO. Discuss the legal, political and economic effects of world trade liberalization (30 marks) International trade sees the exchange of goods, capital and services between both countries and continents, crossing national and international trade boarders. As is the case with most countries, this ‘cross trading’ accounts for a large percentage of a countries revenue and it’s GDP (Gross Domestic Product). Trade has played a vital role in shaping the world’s global economy and the economic and social prospects of developing countries. At a United Nations Summit recently, global trade was hailed as the reason certain newly industrialized countries such as China has become so forthright and dominant in their advances both economic and social, the following report read, ‘In recent decades, a number of developing countries, most notably the East Asian newly industrializing countries, have been able to purposefully use the elemental force of trade to boost growth and development within a relatively short time span.’ (Puri 2005 cited in UNCTAD 2005 report p.22) But this boost in International Trade has not been without its complications and challenges.
[citation needed] In the late Middle Ages, transcontinental trade over the land routes of the Silk Road declined as sea trade increased,. [3] In recent years, both the maritime and overland Silk Routes are again being used, often closely following the ancient routes. Trade on the Silk Road was a significant factor in the development of the great civilizations of China, India, Ancient Egypt, Persia, Arabia, and Ancient Rome, and in several respects helped lay the foundations for the modern world. Though silk was certainly the major trade item from China, many other goods were traded, and various technologies, religions and philosophies, as well as the bubonic plague (the "Black Death"), also traveled along the Silk Routes. Some of the other goods traded included luxuries such as silk, satin, hemp and other fine fabrics, musk, other perfumes, spices, medicines, jewels, glassware, and even rhubarb, as well as slaves.
After the world war 2 there are major developments in many industries such as banking, government industries and etc… the service giving industries such as Travel and Tourism, hospitality, medical, health and beauty are becoming more and more popular among the people. Not like earlier people have money to spend and also they have time to travel. Also the aviation industry giving the strong service thru modern technology which is encouraging to people to travel more and more. When we consider about the British tourism, it is started with the pilgrimage. Traveling to holy place and worshiping the god is relief the pain and pressure of the people.