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World War 1 also known as the great war was an international conflict that affected the economies of most countries in the world. Especially because of the number of casualties(41 million).
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November 7, 1917:
With Vladimir Lenin at the helm, the Bolsheviks, ascribing to Marxism, seize power during Russia’s October Revolution and become the first communist government. -
The Treaty of Versailles codified peace terms between Germany and the victorious Allies. The Treaty of Versailles held Germany responsible for starting the war and imposed harsh penalties on the Germans, including loss of territory, massive reparations payments, and demilitarization. It was signed at the Palace of Versailles in Paris at the end of World War I.
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During the quarter of a century preceding his death, the Soviet dictator Joseph Stalin probably exercised greater political power than any other figure in history. Stalin industrialized the Union of Soviet Socialist Republics, forcibly collectivized its agriculture, consolidated his position by intensive police terror, helped to defeat Germany in 1941–45, and extended Soviet controls to include a belt of eastern European states.
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Under Stalin, the Soviet Union was transformed from a peasant society into an industrial and military superpower. But, his citizens were following him only out of fear not loyalty. Stalin aligned with the United States and Britain in World War II but afterward engaged in an increasingly tense relationship with the West known as the Cold War. After his death, the Soviets initiated a de-Stalinization process.
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The Great Depression is known as the worst economic downturn in the history of the industrialized world, lasting from the stock market crash of 1929 to 1939. The great depression took the most toll on the United States of America as industrial production, employment rates, and gross domestic product decreased drastically.
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Adolf Hitler was a dictator that ruled and created Nazi Germany. He was also the reason for the 2nd World War and the Holocaust which destroyed cities and killed millions of people. It caused shortages of food, fuel, and money. It is still perceived by most as a sensitive topic.
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World War II was the biggest and deadliest war in history, involving more than 30 countries. It started because of the Nazi Germany invasion of Poland in 1939. It Caused a lot international turmoil and hurt multiple countries' economies.
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It was a way that people thought to be a method of stopping economic turmoil. Because if everybody owes each other money nobody would want to harm another, because then if a country was to be wiped out important money sources for a lot of other countries would be gone.
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The Bretton Woods Conference, officially known as the United Nations Monetary and Financial Conference, a meeting of delegates from 44 nations that met from July 1 to 22, 1944 in Bretton Woods, New Hampshire. The reason for this gathering was to agree on new rules for the monetary system after World War 2.
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The IMF was originally created in 1945 as part of the Bretton Woods Agreement, which attempted to encourage international financial cooperation by introducing a system of convertible currencies at fixed exchange rates.
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The General Agreement on Tariffs and Trade (GATT) was negotiated in 1947 and first entered into force in 1948. The GATT made rules for much of world trade. Later on, in 1995 the world trade organization was founded.
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The WTO began life on 1 January 1995, but its trading system is half a century older. It is the only global international organization dealing with the rules of trade between nations.