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WWI
WWI ended the central powers in countries like Germany, Russia and Austria-Hungary. This caused their economies to crumble. -
Treaty of Versailles
It was a peace treaty signed after WWI. It included harsh penalties on Germany which caused them to lose territory and gave them massive reparations payments. -
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Rise of Communism
The USSR was the first communistic state. They were ruled by Joseph Stalin. He made Russia an industrial and military giant but at the cost of 5 million citizens. -
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Stalin
He was the political leader and dictator of the Soviet Union. He also industrialized the Soviet Union. -
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The Great depression
The great depression was a huge worldwide economic downturn. It was the longest and most severe depression. -
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Hitler
He was elected into the government after he promised that he could fix their problems. He invaded Poland, Britain, and France, which lead to the start of WWII. -
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WWII
WWII was a war started by Germany, who was trying to invade Poland. It killed millions and crashed their economy. -
Bretton Woods conference
It was a huge gathering of the 44 allied nations. It was assembled to regulate the international financial order after WWII. -
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International Monetary fund
It was an international organization created at the Bretton Woods conference to stabilize currency exchange rates and expand international liquidity. -
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World Bank
The World Bank was created to aid developing countries and help any countries that experienced an economic collapse. -
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General Agreement on Trades and Tariffs
It was an international trade agreement signed by 23 nations. It was made to boost economic recovery. -
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World Trade Organization
It's an organization that deals with the global rules of trade between nations.