-
Rise of communism
The communist manifesto was published, inspiring people like Lenin, Stalin and Mao. This affected the world, causing many communist countries to be created -
Period: to
WW1
World war 1 happened, causing many people to die, but also the independence of many countries. France was badly damaged because of the war and Germany had to pay because of the treaty of Versailles. -
Treaty of versailles effective
A peace treaty signed by all the central powers that ended WW1. Made Germany pay 31.4 Billion (in 1919 money) as reparations. Germany couldn't afford to pay and later started WW2. -
Period: to
Stalin being in power
Stalin ruled over the USSR. He industrialized the USSR, created the five year plan and also started Holodomor -
Period: to
The big sad
A worldwide economic depression. Some people had to sell their children and interest and credit had to be created -
Period: to
Hitler got into office
Hitler was the leader of the nazi party, getting elected in 1934. He was the dictator who started WW2 and the holocaust. -
Period: to
WW2
World war 2 started when nazi Germany invaded poland. 70-85 million fatalities happened during the war. The end of ww2 made the United Nations. -
Bretton woods conference
44 countries had a conference at Bretton Woods, New Hampshire to discuss the creation of the International Monetary fund and world bank -
The World Bank is established
The world bank gives loans out to governments and non governmental organizations. It has a bunch of initiatives that go along with the UN's sustainable development goals. -
International Monetary Fund created
IMF works is an international financial institution consisting of 190 countries. It helps countries experiencing balance of payment problems and will lend money to governments in a financial crises. -
Creation of GATT
General agreement on trades and tariffs (GATT) was created. GATT was a legal agreement whose purpose was to eliminate restrictions on international trade such as tariffs. -
World Trade organization replaces GATT
The World Trade Organization replaces the General Agreement on Tariffs and Trade (GATT). WTO provides countries a framework for negotiating trade agreements, trying to eliminate tariffs and quotas.