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WWI
WWI was a massive global conflict involving the most powerful nations that lasted from July 28, 1914 - November 11, 1918. As a result of WWI, there was many geopolitical changes and left a lot of countries and people in financial instability. -
Stalin (Russian Revolution)
The Russian revolution was a revolution that had working class people and peasants overthrow the imperial government and adopt a socialist form of government led by Vladimir Lenin. This led to multiple successive revolutionaries, giving Russia a fresh start, and this ultimately affected common economic ideologies and global power beliefs. -
Treaty of Versailles
The Treaty of Versailles was the peace treaty that officially ended WWI. It gave ruthless terms on Germany, including reparations, and this all contributed to economic and political rupture within the country and the surrounding European nations. -
The Great Depression
The Great Depression was a massive global economic deterioration that affected many countries across the world. Stock prices crashed, banks failed and got overwhelmed, GDP crashed, lack of trade, and decreased industrial production are all reasons that this happened. After this, countries feared globalization, figuring it could put them in major economic vulnerabilities, many IGOs, INGOs, and NGOs went into financial instability and took a long time to recover from it, some more than others. -
Hitler
Adolf Hitler was appointed Chancellor of Germany in 1933. In Nazi Germany, this led to aggressive expansionary
policies and eventually added up and led to the start of WWII. The war and the damage it left significantly influenced global economic and political structures towards what we know them as today. -
WWII
WWII, what we know as the most destructive war in history, having over twice as many deaths as WWI, started due to the fact that Adolf Hitler invaded Poland in 1933, leading to Great Britain and France declaring war on Germany. Many countries were affected by this due to it being a World War and many countries economies were in shambles or collapsed. This Led to many allies being built and countries reaching agreements to give time to rebuild themselves. -
Bretton Woods Conference
The Bretton Woods Conference was a meeting full of allied nations aiming to establish an international economic order to recover from WWII. It led to the creation of the International Monetary Fund (IMF) and the World Bank,
institutions that played key roles in economic globalization and dealing with the aftermath of WWII. -
World Bank
The World Bank was similar to the IMF, although instead of targeting countries involved in WWII, they targeted developing countries trying to build up but don't have the recourses or money to do so. This helped many countries succeed and made them as big as they are today. -
IMF (International Monetary Fund)
The International Monetary Fund supplied financial assistance to member countries after WWII. This promoted financial stability for those countries and helped a lot of countries get back up on their feet, ultimately making them what they are today. -
GATT (General Agreement on Trades and Tariffs)
The General Agreement on Tariffs and Trade (GATT) was signed in 1947 by 23 countries. It was a treaty that aimed to minimize barriers related to international trade by eliminating or reducing quotas, tariffs, and subsidies. It laid the foundation for the increased use of trade, which is the most rapid form of expansion when it comes to globalization since 1945. It also ultimately led to the establishment of the World Trade Organization (WTO). -
WTO (World Trade Organization)
The World Trade Organization (WTO) was an international organization that monitors international trade. It succeeded GATT and plays a crucial role in shaping and governing global trade policies and using it to expand economies all around the world. Countries would not be what they are without trade.