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Communism is a political and economic doctrine that aims to replace private property and a profit-based economy with public ownership and communal control of at least the major means of production and the natural resources of a society.
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World War I was a global war that lasted from 1914 to 1918. It involved two opposing alliances: the Allies (mainly France, Britain, Russia, Italy, Japan, and the United States) and the Central Powers (mainly Germany, Austria-Hungary, Turkey, and Bulgaria).
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The Treaty of Versailles was a peace treaty signed on 28 June 1919. As the most important treaty of World War I, it ended the state of war between Germany and most of the Allied Powers. It was signed in the Palace of Versailles, exactly five years after the assassination of Archduke Franz Ferdinand, which led to the war.
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Stalin was a revolutionary and political leader who became the dictator of the Soviet Union after the death of Lenin in 1924. He rose to power by defeating his rivals within the Communist Party through a series of political maneuvers, purges, and alliances.
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The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States. The timing of the Great Depression varied across nations; in most countries, it started in 1929 and lasted until the late-1930s. It was the longest, deepest, and most widespread depression of the 20th century.
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World War II was a global war that lasted from 1939 to 1945. It involved two opposing alliances: the Allies (mainly Britain, France, the Soviet Union, the United States, China, and other countries) and the Axis (mainly Germany, Italy, Japan, and their allies). The war started after Germany invaded Poland in 1939, which triggered Britain and France to declare war on Germany.
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Adolf Hitler was an Austrian-born German politician and the leader of the Nazi Party. He was chancellor of Germany from 1933 to 1945 and dictator of Nazi Germany from 1934 to 1945. Hitler was at the center of the founding of Nazism, the start of World War II, and the Holocaust.
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The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 allied nations at the Mount Washington Hotel, in Bretton Woods, New Hampshire, United States, to regulate the international monetary and financial order after the conclusion of World War II.
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An international organization established in 1945 aims to promote international trade and monetary cooperation and stabilizing exchange rates. Member countries contribute in gold and in their own currencies to provide a reserve on which they may draw to meet foreign obligations during periods of deficit in their international balance of payments
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The General Agreement on Tariffs and Trade ( GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis."
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The World Bank was created during the Bretton Woods Conference along with the IMF. The president of the World Bank is usually an American. The World Bank and the IMF are both based in Washington D.C., and work closely with each other.
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The World Trade Organization (WTO) is an intergovernmental organization that regulates international trade. It was established on January 1, 1995, under the Marrakesh Agreement, which was signed by 123 nations on April 15, 1994. It replaced the General Agreement on Tariffs and Trade (GATT), which was created in 1947 and operated as a provisional multilateral treaty regime for almost half a century.