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WW1
Competition of colonies with Europeans was one of the biggest leading causes to WW1. Britain, France, and Russia vs Germany and Austria Hungary. A total of 15 million soldiers were killed. The after effect was Canada suffering from a huge debt (164 million dollars a year + 74 million dollar soldier pension). This debt is the main reason for income tax. -
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Russian Revolution
During 1914, Czar Nicholas II was the ruler of Russia and he was an absolute monarch. The Russian Empire and population was massive at the time, as Russia took up 1/6th of Earth's land mass. The Russian workers were treated very poorly and Russia was falling behind in industrialization During the first year of WW1 the Russian army was under-armed and they were many causalities during the first year of the war., By the end of 1922, Russia suffered a severe lost in population. -
Treaty of Versailles
This treaty was a huge disaster for Germany since they had to pay for all the damages they created during WW1. John Maynard Keynes said the amount of money Germany has to pay will force them into another war, their damage payments was around 33 billion dollars in cash during 1945. -
Rise of Communism
In 1922, Russia formed the first communist state (USSR). The goal of communism was to destroy social distinctions, and for everyone to receive what they need to survive. -
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Great Depression
People were spending a lot and trying to invest a lot into the stock market. By the end of the decade, spending went down but production did not. In short, the global economy was crumbling any many nations were severely being negatively affected by it. -
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Stalins Rule
Rulership of the USSR was handing to Joseph Stalin and it became a 1 party state. He formed it into a military and industrial giant, forcing many people into labor. Collective farms were created, where all the grains from the farm were given to the government. Instead of dispersing the grain back to the people, the government sold the grains for upgrades in military and industrialization This in turn caused a massive famine named "Holodomor".. -
Rise of HItler
Since Germany was struggling from past events (Treaty of Versailles, The Great depression), Hitler promised to solve all their issues. He convinced that the Germans belonged to a master race called the "Aryans". He took over Austria and Czechoslovakia but once he invaded Poland, Britain and France declared war on him. -
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WW2
3.70% of the world's population died during WW2.. Since Germany was struggling from past events (Treaty of Versailles, The Great depression), Hitler promised to solve all their issues. Once Hitler invaded Poland, Britain and France declared war on Hitler, beginning WW2. -
Brenton Wood Conference
44 Representatives from different countries came to one meeting. They were trying to solve an economic turnover that would potentially create another world war. This meeting created the World Bank Organization and the International Monetary Fund as an effective way to stop global economic turnovers. -
Creation and Purpose of the International Monetary Fund
Head of IMF is decided by the European Union. Countries who contribute pay based on their wealth. Their goal was to set an international exchange rate and to establish international economic stability. Their current goals is to lend quick loans to suffering countries and to rid suffering countries of corrupt leadership. -
World Bank Creation and Purpose
The leader of the WB is decided by the US government and is funded by the governments who participate in the WB.Their goal was to help countries that suffered from wars to rebuild. Another key focus of theirs was to increase global industrialization and to economically support struggling countries. Currently they are funding countries with high poverty, and funding specific infrastructure projects. -
The General Agreement on Tariffs and Trade (GATT)
This agreement got rid of trading barriers and tariffs between countries, allowing a more globally economic system. The world trade organization emerged from this agreement. -
Creation of World Trade Organization
The World Trade Organization emerged from the GATT, it's main purpose is to make sure global trade goes smoothly. It wants to keep a stable and safe trade system globally.