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WWI
WWI was a War between Germany and Britain as well as their allies. During this time millions died and millions wounded. Germany had formally surrendered on November 11, 1918, and all nations had agreed to stop fighting while the terms of peace were negotiated. While the war caused lots of debt it was also the first times the world gave one another loans to help pay off their debt -
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Rise of Communism
It removed Russia from the war and brought a transformation from the Russian Empire into USSR, replacing Russia's traditional monarchy with the world's first Communist state. This affected Russia as the rich became equal in wealth to the commoners and anyone the main guy didn't like got nothing -
Treaty of Versailles
This treaty was formed a year after the end of WWI in order to screw over Germany economically. The treaty made them take fault for the war and once signed they loss possession of territories, reduction in military forces, and reparation payments to Allied powers. -
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Stalin
Stalin was a dictator of the USSR who was able to transform a peasant society into an industrial and military superpower. However many died during his rule. While he did cause lots of death he industrialized Russia 25% each year, which allows there exports to increase. -
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The Big Sad
The Great Depression was the worst economic downturn in US history. The stock market crash of October 1929 signaled the beginning of the Great Depression. By 1933, unemployment was at 25 percent and more than 5,000 banks had gone out of business. With so much unemployment the contrys GDP dropped 29% -
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Hitler
Hitler capitalized on economic woes, popular discontent and political infighting to take absolute power in Germany beginning in 1933. shortly after the outbreak of World War II began, and by 1941 Nazi forces had occupied much of Europe. Hitler’s virulent anti-Semitism and obsessive pursuit of Aryan supremacy fueled the murder of some 6 million Jews, along with other victims of the Holocaust. While Hitler did and cause some awful thing he improved Germanys debt buy causing the removal or the TofV -
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WWII
It was the most destructive war in history and millions of people were killed. It was fought between the "bad guys"(Germany, Japan, and Italy) and the "good guys"(Britain, the US, and the Soviet Union among others). The war gave opportunity's for jobs and fairer income but also caused many contreys to accumulate lots of debt -
IMF
The International Monetary Fund monitors the international monetary system and global economic developments to identify risks and recommend policies for growth and financial stability -
World Bank
The World Bank is one of the world's largest sources of funding and knowledge for developing countries. Its five institutions share a commitment to reducing poverty, increasing shared prosperity, and promoting sustainable development. Though this is the goal the use of the money in this bank is heavily swayed by the words of the contries with the most money in the bank -
Bretton Woods conference
Was a meeting of 44 countries in July 1944 during WWII to figure out how they could prevent economic turmoil that could lead to another world war. They developed the world bank and The international Monetary Fund to interconnect everyone's money incase another WW was to arise. -
GATT
The General Agreement on Tariffs and Trade which covers international trade in goods. -
WTO
The World Trade Organization was made to deal with the global rules of trade. Its main function is to ensure that trade flows as smoothly, predictably and freely as possible. in order to be apart of this your country must make a payment to get a spot.