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invention of steam engine and industrialisation
Jame watt a native of scotland had now pattented a fully functioing steam engine. Theis engines power could now be harnessed to power inventions like the spiining wheels iused for making cloths that replaced textiles, and many other mechanical inventions that would start the mass production of materials in factories and start industrialisation. -
Berlin conference and the scramble of africa.
As industrialisation grew more popular amoungst European nations, and as they all looked to gain power and reasources expansion was the only awnser and the continent of africa was the perfect place to start. It was full of reasources and people. In the berlin conference the super powers divided up Africa as this day that would change the economy of Europe forever. -
ww1
After world war one many rods factories and farms were destroyed this halted ecocnmys of the many countrys it also lead to the treaty of versailles which hurt germanys economy and the contibuted to the beggining of the great depression as country spent less money internationally. -
Treaty of Versailles
Was supposed to prevent another war by giving Germany reperation payments, but in the end the costs were to much ending up in inflation in germany. This later ended up starting ww2 as hitler attempted to starighten out his countrys economy through war. -
russian revolution and the creation of the ussr
The Russian revolution started with the fall of the last Czar, Nicholas the II, and his hierarchy system, and in 1922 Russia became the USSR which was the first communist state which has started much debate and tension between contrys and economic systems. It also led to the cold war which effected trade. -
Great depression
After ww1 on black tuesday the stock market crashed everyone started selling and no one was buying. This created unemployment and inflimation in the world's economic system as countrys tried to rebuild and spent money in their own conntrys. This series of events coupled with a massive drought caused one of the biggest economic downturns in history. -
ww2
World war 2 was a contributing factor to the ending of the great depression, it lead to germany fixing there economic problems. Though in other contries around the world war one millions of soilders died, acres apon acres of land, roads and buildings were ruined, and billions of dollars invested in the war. -
the bretton woods conference
The bretton woods conference was held to explore economic options to help prevent another world war after world war 2. In the end the world bank was established as well as the international monetary fund. Where made to help finacialy aid war sticken countrys or develping contrys as well as give short term emergency loans in order to help boost the economy. -
Black monday 87 market crash
Started with a steep increase in stock value in 1987 but the soon after stock dropped heavily all across the world starting in Hong Kong then spreading to the rest of the world. Though the exact causes are stil being debated this market crash slowed down trading world wide. -
9/11
The attack on the twin towers had a huge impact on the economy and trade it costed northwards of 40 billion dollars in insurance dollars, as well as it closed the NYSE for a prolonged amount of time for the third time in history. Causing a fall in stocks as well as a steep yet brief drop in the value of the american dollar in comparison to other currencies.
