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Period: to
World War
-The War cost the world a lot of money (very high prices)
- Lots of people were killed
-Lots of countries were in dept
- The countries wanted to expand their global trade -
The Russian Revolution
- Peasants lived in harsh and difficult times in the ancient economic system that allows them little control over property/labour.
- They felt it was unfair and wanted a change.
- Czar Nicholas was the ruler
- He was forced to give up his throne
- Was murdered
- Soviet Union became the first communist state -fromed/shaped the 20th century
- Goverment control vs. Economic Freedom
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Treaty of Versailles
- Its goal was supposed to be to ensure and prevent another global war.
- The reparation payments were too extreme and eventually lead to feelings of retribution by Germany
- Germany lost a lot of money and were greatly in debt.
- Other countries gained money from it
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Stock Market Crash
Investors started to sellstocks at a fast pace.
Market started to slide and drop
It crashed, and lead to the great depression
It effects economic globalization, because it was where the economy fell, sending them into depression. -
The Great Depression
- Specific day was Black Friday
- Stocks and its values decreased harshly.
- Many people struggled -Sales plummeted. -Employment Rate fell
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Period: to
World War II
Adolf Hitler was elected leader in Germany, had an eurocentric way of thinking about his own culture.
Attacked Poland, which caused other countries such as Britain, France, Australia, New Zeland and Canada to join in and declare war.
More than 50 countries/colonies joined in and the war killed an estimated 3.5 million in GErmany alone.
In Canada, the results of the war were far better than the first one. It provided more jobs for both men and women, allowed for more mechanized faming. -
Period: to
UN Monetary and Financial Conference
Representatives of 44 countries met together during WWII
Purpose was how they could prevent another war
Looked at all the economic issues
They were trying to save countries, economies and people by trying to prevent another war
They were trying to protect the world as a whole. -
Creation of the internet
This date was the official press release date of the internet&many people then on became familiar with it.
The idea and processes of the internet started in the late 1960s.
The internet is now one of the most known about inventions. It is used by billions of people all over the world, for information and news access, amusment, education, etc.
It has spread all over, connecting our world together, making communication easier, with creations of social media, for example and has lead to more. -
GATT (Global Agreement on Tariffs)
Goal: to gradually eliminate tarifs, as well as other trade barriers between themsleves.
This was to allow and encourage more trade between nations
This involves globaization because different countries get to experience and use other countries goods.
It allows people to connect with our countries through goods and services. -
GTO (Global Trade Organization)
Makes sure that the terms of trade agreements are followed, settles trade disputes between governmanets and conducts trade negotations.
It connects all of our world/global trade, which is like GATT. It ensures for an almost problem free system (even though that doesn't officially exist), to beneficially provide for our world.
