(a) After the abolition of the Corn Laws, food could be imported into Britain more cheaply than it could be produced within the country. Due to this, farmers did not grow corn, leaving the land uncultivated. This resulted in unemployment on a large scale and the people started migrating to the cities or migrating overseas, looking for work.
(b) The coming of rinderpest to Africa caused a loss of livelihood for countless Africans. Rinderpest was a cattle plague spread by Asian cattle taken to Africa to feed the Italian soldiers by the European colonisers. The disease infected the African cattle, which spread like ‘forest fire’. Rinderpest killed 90 per cent of the catde. This virtually destroyed the African economic system based on cattle and land.
Africans, who worked rearing catde, were unemployed and forced to earn their livelihood by working in mines and on plantations set-up by the Europeans.
Using this situation to their advantage, colonising nations successfully monopolised what catde resources remained, to strengthen their power and to force Africans into the labour market.
© After the First World War, most men of working age were either injured or dead. These deaths and injuries reduced the workforce of able-bodied people with fewer members in the family. Thus, household incomes declined after the war.
(d) The Great Depression immediately affected Indian trade in ’ agricultural goods. Indian exports and imports nearly halved between 1928-1934. As internadonal prices crashed, prices in India also plunged. Wheat prices fell in India by 50 per cent and prices of raw jute crashed by 60 per cent. Peasants and farmers were worst hit.
The colonial government refused to reduce revenue demands in spite of this. The jute producers of Bengal faced a severe loss. The depression proved less grim for urban land-owners and salaried people, who had fixed income.
(e) Wages are relatively low in Asian countries, due to excess supply of workers and a lower standard of living. Thus, they became attractive destinations for investment by foreign MNCs competing to capture world markets. Most of the economies of Asian countries have a low cost structure.
Most of these countries also have a huge market. The low cost structure of these economies enabled mass production at a much lower cost. It led to a stimulation of world trade and capital flow.
It benefitted the Asian countries by increase of employment and a quick economic transformation.