The Second Industrial Revolution Analysis

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The second industrial revolution: the fall of Britain, the rise of the rest
Although the second industrial revolution was no longer focus on the development of textile industry, still, it accounted certain influences on the transformation on global cotton trading. It is widely believed that the second industrial revolution began in the second half of the nineteenth century and ended before the onset of First World War. The second industrial revolution also known as the technological revolution. Unlike the first industrial revolution, the technological revolution emphasis more on developing the heavy industry, such as railroad, steel and iron production, and the technological development was no longer the patent of Britain as United States,
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Since the North was the arising business centre in America which is industrialised and urbanised without slavery, they are more likely to reject to slavery. But the Southern states, mostly were the agricultural states, cotton plantation and exportation are their major economic pillar, and slavers are the important capital for them to access wealth, thus, the abolishment of slavery is a loss for the people in the South. During the 4-year American Civil War, the imports of raw cotton in Britain was dramatically reduced, the ‘cotton famine’ led to the doubling of cotton price. Many cotton mills in England were unable to survive under this crucial circumstance and “began shutting down for a few days a week, or entirely” (Beckert, 2014: 247), and the factory workers suddenly lost their job which led to the economic depression in Great Britain. Interestingly, not only Great Britain, France cotton industry faced the same difficulty during the wartime. In order to satisfy the demand of raw cotton in Britain, the British capitalists and even the state authorities (since the cotton industry was the centre of states’ economy) tended to search for another stable source, and India is one of the options. The capitalists and authorities started to ship and distribute the cottonseed to India which intended to increase its cotton output and build up another centre of cotton plantation in order to revitalise the European cotton industry. The outbreak of U.S. Civil War, shortage of the American cotton, the depression of European cotton manufacturing, and the investment on cotton cultivation in India indicated the increasing interdependency of different countries and the beginning

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