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Rise of Communism
The rise of Communism started when Lenin tried to overthrow the imperial family in Russia and still continues today in China, North Korea, and etc.
- Bad for economic globalization. This is because in Communism there's no trade outside of its nations. Removing any kind of economic globalization. -
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WWI
Began after the assassination of Archduke Franz Ferdinand of Austria. was pitted Britain, France, and Russia against Germany and Austria-Hungary. 15 million soldiers were killed.
-Was bad for economic globalization, because everything blows up. many European governments had to borrow heavily from the united states, owing to more the 7 million. However, after the war, the nations become more interconnected through the treaty of Versailles. -
Treaty of Versailles
A peace treaty made after WWI. This was a giant mess for Germany, that cripple their county. Germany was required to accept all responsibility for causing all damages in the war
- This was a positive effect on economic globalization. It gave the allied nations to become more interconnected, making for more trade. Though it did cripples Germany. -
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Joseph Stalin
A solvent dictator who killed 33 million people. He believed in Collectivization and communism.
- He negatively affects economic globalization. He did this by communism which stopped trade. -
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The Great Depression
During 1920, consumerism increased and people were heavily invested in the stock market. then there was a natural decline in spending. However, production didn't decrease. everything started going downhill, the fewer people bought, the more jobs were cut adding to the problem.
- This was bad for economic globalization. The worldwide economic downturn, with the loss of employment. Cause the world to stop producing and buying. -
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Adolf Hitler
He was the leader of the Nazi Party, becoming Chancellor, and then Führer. Help Germany get back on to its feet after WWI and the great depression. He was the main contributor to WWII.
- Was a positive effect on economic globalization. This is because he helped increase trade with other nations. Building up the economy of Germany, becoming more interconnected with others. -
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WWII
WWII involved more than 30 countries. Was sparked by the Nazi invasion of Poland. It was fought between the Axis Powers (Germany, Italy, Japan) and the Allied Powers (Britain, United States, Soviet Union, France).
-Was good for economic globalization. Decreased unemployment rates helping production and trade to increase. As well as during the war the modernization of technology and trade help the growth of the global economy. -
Bretton Woods Conference
The conference was the gathering of 730 delegates from all 44 Allied nations, where they all decided upon making the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD).
- This positively affected economic globalization. By creating a system that would ensure exchange rate stability, and promote economic growth. Making nations more interconnected through trade and money. -
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World Bank
International financial organization that provides loans and grants to the governments.
-Good for economic globalization. By interconnecting nations through money. This is a literal example of economic globalization. -
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International Monetary Fund
An intergovernmental organization that promotes and ensures the stability of the international monetary system.
- This was positive for economic globalization. This was done by helping to ensure the international monetary system. Becoming a world bank, interconnecting nations through money. -
General Agreement on Trades and Tariffs
An agreement between many countries, which were all for the promote international trade.
- This was a positive effect on economic globalization. It helped to reduce and soon eliminate trade barriers making trading free. They soon changed names to World Trade Organization. -
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World Trade Organization
An intergovernmental organization that deals with the global rules of trade. The main goal to ensure that trade flows as smoothly, predictably, and freely as possible.
- This is a positive effect on economic globalization. Allowing trade to become easier. Which then increased trade around the world, making nations more interconnected.