Economic Globalization Timeline

By RAD321
  • WW1 starts

    WW1 starts
    Archduke Franz Ferdinand was assassinated June 28 1914. He was visiting Bosnia when Gavrilo Princip shot him and his wife when they coincidentally stopped in front of the sandwich shop he was eating at. The war started when Austria-Hungary declared war on Serbia, soon after their allies joined the war. Germany, Austria-Hungary, The Ottoman Empire, and Bulgaria joined together on one side of the war. On the other side of the war was Serbia, Russia, France, Belgium, The United Kingdom, and others.
  • The Rise of Communism/The Russian Revolution

    The Rise of Communism/The Russian Revolution
    The Russian revolution really marks the start of communism. In 1914 Czar Nicholas II was the ruler of Russia. Industrialization was severely lacking and during WW1 they went in with outdated equipment leading to the deaths of millions of soldiers. This led to Russians being unhappy and the Soviet Socialist Republic emerging. They overthrew the government and became the USSR. A communist state with ideas that everyone should be equal and taken care of. The leader of the USSR until 1924 was Lenin.
  • End of WW1

    End of WW1
    20 million people died. Which consisted of 9.7 million military personnel, and 10 million civilians. Serbia and it's allies won, while Germany took the brunt of the war. The war officially ended with The Treaty of Versailles. Canada ended WW1 2 billion in debt. Many other countries were greatly in debt after the war, from funding their own soldiers and rebuilding costs.
  • The Treaty of Versailles

    The Treaty of Versailles
    The Treaty of Versailles was a piece of legislation that made it so that Germany took all responsibility for the war. They were 132 billion gold marks (269 billion today) in debt. The treaty was mainly written by France, England, Italy, and The United States. Germany wasn't involved in it's creation at all. The treaty was signed by 66 representatives from 32 different countries.
  • Stalin takes power

    Stalin takes power
    Stalin took power after the death of Vladimir Lenin. Stalin started as the general secretary of the central committee of the communist party of the soviet union. He got rid of competition by manipulating the public image of them and would sometimes exile or assassinate his competition or people he didn't like.
  • The Great Depression starts (The Big Sad(Courtesy of Will))

    The Great Depression starts (The Big Sad(Courtesy of Will))
    The great depression was a major economic failure. It was caused by panic in the market as stocks dropped and people took all their money out of the bank. Before this people were buying a lot of new things so businesses had to hire more and people made more money to spend on stuff. But once you have everything the businesses stop making money because less people buy their product and then they lay people off so they can't spend money on stuff anymore.
  • Hitler takes power

    Hitler takes power
    Hitler became a figurehead for German's because they were in terrible condition from the treaty of Versailles. They disliked their government greatly and we're more open to crazy ideas like Hitler's. He promised to "fix" the economy and blamed it on the Jews. He didn't start right away with crazy views, he slowly acclimatized German's to them so by the time WW2 rolled around they seemed normal. Hitler had ideas of only taking care of Germany and made it so that internal economics were better
  • The great depression ends

    The great depression ends
    120 million people died. This event was very hard for kids, some of which were sold or left to fend for themselves. After it ended over 200,000 vagrant children were left. WW2 seems to have caused the end of the great depression by giving a lot of unemployed people jobs in the military and starting the rise of women in the workforce.
  • WW2 starts

    WW2 starts
    WW2 started in a terrible time for the whole world with it still being in the midst of the Great Depression. It started with Germany taking Poland being told off and then continuing to take other places. Men are going to fight and women are taking their positions in normal jobs in factories and places like that.
  • creation of the World Bank (WB)

    creation of the World Bank (WB)
    The World Bank gives loans and grants to countries. the amount a country is in debt is how much they owe to the World Bank or other countries.
  • international monetary fund (IMF)

    international monetary fund (IMF)
    On the IMF's homepage they identify their job as " monitors the international monetary system and global economic developments to identify risks and recommend policies for growth and financial stability". the IMF is located in the US in Washington DC. They determine how much a certain type of currency is worth.
  • Bretton Woods Conference

    Bretton Woods Conference
    The Bretton Woods Conference was an organized meeting between 44 countries that was to set up the international monetary system after WW2. The World Bank and International Monetary Fund were proposed and started to be created during this meeting.
  • Hitler loses power (dies)

    Hitler loses power (dies)
    Hitler killed himself 5 months before the world ended. German lost quickly after. At this point many German soldiers were disillusioned about war.
  • WW2 ends

    WW2 ends
    The US was 285 billion in debt by the end of WW2. By the end of the war Canada was 18 billion in debt. Germany had to pay the allies 23 billion after the war. It caused the Bretton Woods conference to be held and a lot of other legislation was put in because of the war.
  • GATT (General agreement on trades and tariffs

    GATT (General agreement on trades and tariffs
    GATT covers all trade in goods. The council consists of a representative from each country who is part of the WTO. GATT provides rules for all trade.
  • Stalin loses power (dies)

    Stalin loses power (dies)
    Stalin's goal was to increase industrialization by 25% every year for 5 years so that the USSR could catch up to rest of the world. In 1932 Stalin declared the 5 year plan successful 10 months ahead of schedule. he also collectivized agriculture which was a part of what led to the starvation of 5 million people.
  • World Trade Organization (WTO)

    World Trade Organization (WTO)
    The World Trade Organization was put in to replace to replace GATT. Where GATT mainly dealt with trade in goods, the WTO deals with trade in services and intellectual property as well.