-
The union of Soviet Socialist Republics emerged out of the former Russia. The USSR was the world's first communist state. Communism is a classless and moneyless society. In 1929, the USSR became a one-party state and was ruled by Joseph Stalin.\ How did this affect economic globalization:
This was bad for economic globalization because communism stops trade from outside countries -
WWI was the first world war. It was Britain, France, and Russia against Germany, Austria, and Hungary. Other countries were involved as the war went on, and over 15 million soldiers were killed How it affected economic globalization:
It was negative because it was a very destructive war, and they destroyed many factories and killed workers. Also, a lot of European countries heavily borrowed from the united states, resulting in them owing 7 billion dollars. -
The Treaty basically said that Germany had to pay for all damages caused by WWI. Theories were made that this would lead to another war, and they were correct. How did this affect economic globalization:
It was good for the rest of the world because they were all helping out each other, and just messing up Germany. -
He was a Soviet dictator who killed nearly 33 million people. He believed in Collectivization and communism. How he affected economic globalization
He affected it poorly because he made a communist government, which is negative for the rest of the world because they can not trade with a communist country. -
The Great Depression started because banks did not quite understand how credit cards worked, and people would "borrow" large sums of money and buy into the stock market with this fake money, which caused stocks to crash. How did this affect economic globalization:
It was horrible for the economy because the stocks crashed. How could this ever be a good thing? Everyone is poor. -
Hitler ran for president in Germany after the Treaty of Versailles and promised to fix all of Germany's problems. Once he was president, he became a dictator and converted many Germans to become Nazis. He started WWII by invading Poland. How did this affect globalization:
Hitler started WWII, which was very bad for the economy. -
WWII was the second world war. It was lead by German dictator Adolf Hitler. The war was lead by Nazis, who believed they were the superior race. Hitler invaded Austria and Czechoslovakia, and when he invaded Poland, Britain and France declared war. How did this affect globalization?
It was bad for the economy because factories were destroyed, millions were killed, and millions were unemployed. -
This conference was comprised of representatives from 44 countries and they met in 1944 before WWII ended. In this conference, they tried to figure out ways to stop the economic aspects of war so another world war would not occur. After this conference, the World Bank and IMF were created. How did this affect economic globalization:
This was great for economic globalization because it was many countries coming together economically. -
The World Bank was created in 1945 and its goals were to lend money to war-torn countries to help them rebuild, to speed up economic progress and industrialization in countries, to help countries develop their natural resources, and negotiate long term loans to increase productivity in countries How did this affect economic globalization:
This is insanely good for economic globalization, as all countries are coming together economically. -
The IMF was created around the same time as the World Bank. Its goals were to set international exchange rates for world currencies and to establish international economic stability and promote foreign trade. How did this affect economic globalization:
It is positive because it is countries coming together economically -
GATT was signed in 1947 and agreed to slowly get rid of tariffs and other trade barriers between countries. How did this affect economic globalization:
This was very good for economic globalization, as it allowed more trades between countries -
The WTO emerged from the GATT