Week 2 Video Guide - INTB 3351 History of Globalization...

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INTB 3351 History of Globalization Video Study Guide Modern Marvels: The Suez Canal Modern Marvels: The Submarine Telegraph 1. How was Egypt drawn into supporting and financing the construction of the Suez Canal? 1854- Canal draft (open to ships of all nations) De Lesseps trick Sa'id Into buying most of all the shares for the money to built the canal even though Sa’id didn’t have enough money. De Lesseps didn’t supply proper equipment or housing for the workers. 9 years later Said died and his nephew succeeded and had to borrow more money to buy machinery to continue the canal since slavery is now illegal. 1869- Finish canal great proportions ports, town was open. 2. What was the strategic importance of the Suez Canal for the First Global Economy? The canal became a major transport link for trade between Europe and Asia in the late 19th century, effectively shrinking the distance between these regions of the world.
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Week 2 Video Guide - INTB 3351 History of Globalization...

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