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Creation of the Transatlantic Telegraph Cable
This cable was the second form of communications to emerge between the european and American continent. They were able to send a message in less than a day as opposed to 10 days via ship. Eventually ideas were passed through the cabes and they led to the thought of electronic communications across the sea. this, in turn led to the idea of Sattelites. -
World War 1 Begins
During the war, many countries borrowed money from the states. The economies became more international through trade and spread wealth to other countries. This stimulated global economy by the rapid flow of money from country to country. -
The Russian Civil war
The workers in russia rebelled against the Tzar because they were living in poverty. the country erupted in turmoil until a communist system came into bieng. The economy of Russia improved greatly, even theough the quality of life did not. -
Great Depression
This had a big effect on the world. all of the stockholders started selling their stocks and all of a sudden, the price of stocks went down, and finally, nobody had any money to spend anywhere. -
The years of the Soviet Union
(made this event in order to put a picture to the timespan)
more info on the Soviet Union Timespan -
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The years of the soviet union
The Soviet Union was the first totally communist government. They showed the world the outcomes of having a communist government. They also united countries and formed free trade between them. -
World war II
The world war aided in bringing the world out of the economic depression that they were in. it got the money flowing and soon everyone had jobs, and countries were trading with each other again. -
Creation of the United Nations
The formation of the United nations would eventually lead to the creation of many other organizations that would control the way the money flows and act as a safety net in case another event such as the great depression decides to hit again. Some of the organizations include: IMF, and WBG. -
The cold war
The cold war put countries in debt, namely the United states and Russia. They spent a lot of money creating weapons and experimenting that this would lead the countries into large international debts. Countries would also be led to national security issues. For example, the large creation of nuclear missles would cause cause concern in generations to follow. -
Creation of the internet
The internet allowed people to communicate almost instanly and collaborate on work or share documents with developments such as HTML script and the FTP program. the cost of of working together got lessened and more advanced projects could be accomplished -
Creation of "Pop culture"
People wanted to be considered popular, so they did things, and bought things that would visibly increase their social status. This "Culture" greatly influenced the way that people spent, and spend their money today. This culture is spread around the world through mass media. Popular culture has a force strong enough to make or break large corporations. -
Creation of shipping container
This revolutionized global trade by allowing companies to send their items around the world in great quantities at cheap costs. -
Humans make contact with Space
In this year, the first sattelite (sputnik) was launched into space, this in turn would lead to the widespread use of sattelites to send, manage, and recieve information which would eventually form into the basis of the world, if these sattelited were taken out of orbit, then the world economy would crash and everyone would be affected. -
Establishment of NAFTA
NAFTA encourages free trade between Mexico, Canada and the United states. This agreement increased trade between these three countries. They also try to protect the intellectual property rights of products by instilling copyrights. -
Estableshment of the European Union
The European started out as a small trade partnership, but eventually expanded to include over 26 member countries. The European Union emphisezes free trade and freedom of movement. People are allowed to move from country to country without passport control, and they can trade without fear of taxes or tariffs. This dramatically increases trade. -
Establishment of the WTO
The WTO was established in order to deal with the things that were straining GATT. The WTO's main goal is to reduce trade tariffs and taxes to encourage more free trade. They also settle economic disputes between countries by imposing sanctions and boycotts.
