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WWI
WWI was the war between countries after the Archduke of Austria was assassinated by a member of the terrorist organization "Black Hand". Many countries went into debt. -
Rise of Communism
After Tsar Nicholas was put out of power, Vladimir Lenin adopted Karl Marx's theory on communism. This increased Russia's economy and allowed for the poverished people of Russia to be fed as much as the higher class people. -
Treaty of Versailles
After WWI, Germany signed the treaty which said that the war would end between the Germans and the other allied forces. After the treaty was signed Germany was put into a major debt which caused them to go through hyperinflation and caused a major economic downfall for the country. -
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Great Depression
The Great Depression was caused by stock crashes and the dooming credit industry. The stock market crashed in 1929 and caused many losses such as poverty, economic downfall, and less industrial contraction. -
Stalin
Stalin implemented five-year plans which caused an upbringing in the economy because there was a certain quota that the industries needed to meet. He ruled over Soviet Russia / USSR and created an authoritarian rule. -
Hitler
After Hitler took over Germany, he transformed the country into a militia which temporarily improved the German economy but caused an immense amount of human suffering and continued anti-semitism to this day. -
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WWII
WW2 was a territorial war which caused hatred for the Jewish people and was also good for the German economy, as multiple industrial revolutions allowed the people in war to manufacture and create weapons that stimulated the economy. -
Bretton Woods
The agreement was signed to create the World Bank and the International Monetary Fund, which both helped pay for the reparations of countries after World War II. -
International Monetary Fund
The Internation Monetary Fund (IMF), allowed countries to take out small loans/funds which helped them pay for small government things. -
World Bank
The World Bank (WB) was created so that countries were able to take out larger loans from each other which helped stabilize relationships with each other and the economy. The WB helped smaller countries after WWII such as Poland repair itself after they were forced into the centre of destruction. -
General Agreement on Trades and Tariffs
GATT was established in 1947, and helped quell global economic issues such as debts and also promoted economic cooperation for countries with each other. -
World Trade Organization
The World Trade Organization (WTO) was created in 1995 to establish trade relationships between the countries in the exclusive organization. It was a successor to its prior establishment, GATT, and it has 190 out of the 197 countries in it. It helped lower tariffs and trade taxes with the countries and you have to claim to be "capitalist" in order to join.