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WW1
A global conflict between the Allied and Central powers resulting in 25 million deaths across affected countries. It first started the many of the involved countries to trade and lend supplies within alliances, while also causing them to go into debt and allow other mini disasters such as famines, overrun monarchies and rise of dictatorships to happen across the war-torn/involved countries. -
Rise of Communism
Karl Marx published The Communist Manifesto, a doctrine to counter Capitalism with government owned services and equal classes. Vladimir Lenin and the Bolsheviks, inspired by the ideology seizes power during Russia's October Revolution to form the world's first Communist government, under the Soviet Union. -
Treaty of Versailles
The Treaty of Versailles was a document with terms and conditions signed at the end of World War I by Germany to the Allied countries. Under the treaty, Germany was held responsible for the war and had to face penalties such as the loss of territory and colonies, expensive reparations payments, and demilitarization. It crumbled the German economy and led to the rise of the Nazi Party, which ended up causing a second global war and an odd period of economic globalization. -
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Stalin
Joseph Stalin was a former revolutionary and dictator who was in charge of the Soviet Union from 1924 until his death in 1953. Under his rule, he made the mainly agricultural Soviet Union into a industrial and militaristic superpower, however resulting in the harsh deaths of millions of his own people. During his reign, he economically changed the Soviet Union and made sure that they kept up with the economies of the world, while also spreading the idea of communism in a cold war. -
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The Great Depression
The Great Depression was an economic downturn that started after Black Thursday in 1929 and lasted towards 1939. This event affected economic globalization horribly, causing increasing poverty, panic within the stock and financial world, and a tattered supply chain caused by decline in consumerism and weather conditions on farms. -
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Hitler
Adolf Hitler was a former dictator who was in charge of Nazi Germany from 1933 until his death in 1945. Under his rule, initiated World War II by invading Poland in 1939, and was very involved within the Axis operations of the war and the initialization of the Holocaust, which killed millions of Jews and other parties of victims. He tried to rebuild Germany into a global superpower especially after the end of WWI, while spreading his ideologies across the territories he took. -
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WW2
A global conflict between the Allied and Axis powers that resulted in 75-80 million deaths across all countries involved, making the deadliest conflict in human history. It happened a few decades after WW1 and was caused after Nazi Germany invaded Poland out of spite after the amount debts Germany had in the aftermath of WW1 and the rise of Nazi dictatorship under Adolf Hitler. By the end, two major superpowers in the midst of a Cold War- the United States and the Soviet Union. -
Bretton Woods Conference
The Bretton Woods Conference was a gathering of delegates coming from 44 different countries with a goal to create an economic system with international cooperation that can help war torn countries recover from the Second World War and sustain global prosperity. It affected globalization as it helped prevent another worldwide war from happening and keep peace and economic prosperity between nations and their internal and external affairs. -
World Bank (WB)
The World Bank is a international financial organization created at the Bretton Woods Conference in 1944 which provides grants and loans for development of developing nations, with a goal to create economic prosperity within those nations internally. It has affected economic globalization through its promotion of international cooperation to secure success and prosperity within the developing countries. -
International Monetary Fund (IMF)
The International Monetary Fund (IMF) is a international financial organization operated by the United Nations formed at the Bretton Woods Conference, with a mission to maintain global monetary cooperation and to secure economic prosperity all across the world through facilitated trade, promoting high employment and reducing poverty. It is affecting economic globalization through its promotion of economic cooperation throughout the world and its protection of worldwide trade and gatherings. -
General Agreement on Trades and Tariffs (GATT)
The General Agreement on Trades and Tariffs was a signed document meant to help gradually end tariffs and trade barriers throughout global trade, by acting as a governing body to establish, maintain and revise rules in the realm of trade. It was succeeded by the World Trade Organization in 1995, and affected economic globalization by setting boundaries on trade and securing international trade negotiations. -
World Trade Organization (WTO)
The World Trade Organization (WTO) is a international organization created in 1995 to replace the General Agreement on Trades and Tariffs (GATT), being made to maintain, revise and establish rules on international trade. It is affecting economic globalization by acting as a governing body to help avoid tariffs and quotas on international trade to help secure the worldwide supply chain and promote international negotiations between countries and their resources.