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World War One
World War I was one of the largest global conflicts in history with 40 million deaths. The war encouraged all countries involved to increase industrial production. Allied countries also increased trade with one another during the war, augmenting economic globalization. -
Communism
The Rise of Communism started with the Russian Revolution. After World War One Russia reformed there economy to catch up with the rest of the world. The new form of economy they formed is what we know today as communism. This influenced other countries and caused them to switch to communism, disrupting internarial trade and economic globalization. -
Treaty of Versailles
The Treaty of Versailles was a peace treaty signed after World War One with the goal of preventing continued conflict. Stopping the war allowed more countries to engage in share of goods and knowledge. In addition to the increase of industrialization after the war, both effects increased economic globalization. -
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Stalin
Stalin was the dictator of Soviet Union from 1929 to 1953. While in power he drastically increased industrial production in Russia and allowed them to partake in global trade, adding to economic globalization. -
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The Great Depression
The Great Depression was one of the largest world wide economic crisis of the 20th century. During this period International trade was reduced by over 50% and in some countries unemployment rate rose as high as 33%. This destroyed the global economy. -
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Hitler
Hitler was the dictator of Nazi Germany and the cause of The Second World War. Before his rule Germany was in a terrible state economically because the aftereffects from World War One. Hitler fixed this by using his power and rule to reform Germanys economy and rebuild their infrastructure. -
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World War Two
World War Two was a catastrophic 6 years with a large death toll and great destruction to world infrastructure. After the war, many countries had to rebuild this infrastructure which caused large innovation globally. The rebuilding of infrastructure and increase in innovation caused global economy to grow. -
International Monetary Fund
The International Monetary Fund or IMF was founded in the aftermath of the Great Depression. It's main focus and goal is to spread sustainability, prosperity, and economic growth to it's countries. -
World Bank
The World bank was made at the Bretton Woods Conference alongside the International Monetary Fund. The Main goal of the bank is to support and lend money to developing countries and to govern international trade. -
Bretton Woods Conference
The Bretton Woods Conference was a gathering of the 44 allied nations after right before the ending of World War Two. The objective of the gathering was to establish the World Bank and the International Monetary Fund. This was done to increase world trade and solidify the global economy, and thus world peace. -
GATT
The General Agreement on Tariffs and Trade is an agreement between many different countries to remove trade barriers between them. The goal of this was to promote internarial trade and make it as easy as possible, solidifying economic globalization. -
World Trade Organization
The World Trade Organization regulates and manages international trade. In addition to GATT, it ensures global trade is happens smoothly and without complications. The Organization greatly promotes and encourages trade, increasing economic globalization.