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By reecyli
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    World War 1

    World War 1 was the first global war ever where all the major powers in the 1900's were involved. This led to huge economic and social problems but also created key advancements in industrial production and war technology. It has had a significant affect on economic globalization as it massively changed our trade routines, shifted the economic power in our world and made new trade relationships.

  • Treaty of Versailles

    The Treaty of Versailles is a peace treaty that was signed by the Allied and Germany after World War 1. It stated that Germany was to blame for the war and had very very harsh consequences for the country. While the treaty seemed to be a good idea it turned out to not be the best as it left Germany itching for revenge. This even has had a lasting effect on our world as it was one of the main reasons leading up to World War 2.
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    Stalin: The Rise of Communism

    Joseph Stalin was the leader of the Soviet Union from 1924 to 1953. He is known for his authoritarian rule which was later deemed 'Stalinism' a form of communism, leading his country to becoming an industrial superpower with his five year plans, and victory in WW2. He made the Soviet Union self dependent and stopped trading with global powers. His rule has had a forever impact on our world both good and bad.

  • The Great Depression

    The Great Depression was a worldwide economic crash that started in October 29 1929 when Wall Street suffered a huge crash. This due to credit cards being introduced, leading to people starting to buy everything on credit, even going as far as entire houses. They also bought stock on credit which was the main problem as when the prices began falling everyone panicked and pulled out leading to the stock market crashing. (Cont. in second part)

  • Hitler's Rule

    Adolf Hitler was a German Politician who is widely known and hated for his role in World War 2, the Holocaust, and his political ideology which is now known as 'Nazism'. He wanted to get revenge and better for the German people as they were greatly suffering from the aftereffects of World War 1. His atrocious horrifying ways of trying to achieve this while in charge will always remain a lasting dark place in global history forever.

  • World War 2 Starts

    World War 2 was one of the most devastating events of the 19th century. Events like the bombing of Hiroshima, Nagasaki and Pearl Harbour and major battles like Stalingrad and D-day are all direct effects of the war. It was triggered by the Germans led by Hitler being upset at the Treaty of Versailles which was created very unfair toward the Germans. This war completely changed how the world runs and led to the creation of the United Nations, hoping to prevent a disaster like this ever again.

  • The Great Depression Ends

    This event had a huge lasting effect on economic globalization as it lead to the collapse of the gold standard, caused currency devaluations across the globe, widespread unemployment and completely changed worldwide trade.

  • Bretton Woods Conference

    The Bretton Woods Conference was held in 1944 and it was to try and get our economy back up and running in the aftermath of the war. 44 allied nations gathered up and created things like the IMF (International money fund) and the world bank, changing the way our economy runs still to this day.

  • World War 2 Ends

  • World Bank

    The World Bank was created after World War 2 to try and fix our economy. It's now primary goal is to reduce poverty and helping out on developing countries. The World Bank provides financial assistance by giving out loans, grants and the funding to support projects. It has greatly affected economic globalization as it allowed for our economy to recover after the war.

  • International Money Fund (IMF)

    The International Money Fund is made of 190 countries who vote on their decisions. They provide financial assistance to the member countries to help them stabilize their economy in case of any problems that could arise. It also watches the global economy and provides advice and analysis's to its members. It has affected economic globalization as its crucial role in helping stabilize their members economies can affect the overall economy of our world.

  • GATT ( General Agreement of Tariffs and Trade)

    In 1947 the General Agreement of Tariffs and Trade was put in place, 3 years after its creation during the Bretton Woods Conference. It is a treaty that aims to globalize trade and reduce trade barriers. While it is no longer in force while it was it had a huge impact on the world. It played a crucial role in trade liberation ( getting rid of the restrictions on international trade) and promoting international trade. GATT has set the rules for trading that we still follow to this day.

  • World Trade Organization

    The world trade organization established in 1955 is an organization that has taken over GATT's role. It assists and oversees trade negotiations and fixes problems in-between their 164 member countries. The WTO has influenced economic globalization by promoting trade liberalization and helping out developing countries and has contributed to making our world more interconnected by working to reduce barriers.