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World War 1 Ends/ League of Nations Formed
The League of Nations was created to ensure world peace. It was created at Geneva, Switzerland because Switzerland was a neutral. The League of Nations mainly used economic force to resolve issues, but also had the ability to use military force. However, the League of Nation's military force was limited because te three most powerful countries (Germany, USA, and Russia) did not join this league. -
LeagueofNationsItaly (1919)
Italian nationalists captured the port city of Fiume. The Italian government proceeded to bomb it. The League of Nations did nothing, despite the fact that htey were recently created to ensure world peace. This was perhaps the league's first failure. -
League of Nations Intervene in Aaland Islands
The island traditionally belonged to Finland but most of the islanders wanted to be governed by Sweden. Neither Sweden nor Finland could come to a decision as to who owned the islands and in 1921 they asked the League to adjudicate. The League’s decision was that they should remain with Finland but that no weapons should ever be kept there. Both countries accepted the decision. This was the League's first success. -
LeagueOfNations:Italy and Albania (1923)
Italy accused Greece of planning the killing of inspectors who were sent to survey the ethnic type of the population living in the border between Italy and Albania,and demanded payment of a large fine. Greece refused to pay up. In response, the Italians sent its navy to the Greek island of Corfu and bombarded the coastline. Greece appealed to the League for help but Italypersuaded the League via the Conference of Ambassadors, to fine Greece 50 million lire. This was not a well-justified decision -
WTO:GATT
GATT is created to impose international economic policies and jump-start the global economy. GATT is the predecessor of the WTO. -
League Of Nations Support Germany's Takeover of Sudentenland
Hitler successfully pressured the League Of Nations to approve of its takeover of Sudentenland, which shows a failure in its aggressiveness. In hindsight, this was a very poor decision because Hitler it benefitted Germany in its attempt to conquer territory and did not prevent Germany from attempting to dominate other areas. -
IMF(Created)
The International Monetary Fund was created to provide loans to other countries. Its main purpose, however, was to earn an interest. -
The League of Nations Hands Power Over to UN
The League of Nations acknowledged its failure. -
UN:PalestineIssue
Britian brought the issue of its decolonization from Palestine to the United Nations. The United Nations agreed that a separate Jewish state should be created. This decision angered Arab nations, but the United Nations proceeded nevertheless, establishing Israel in 1945. Its decision and lack of attention to how to address the backlash it would create has caused the Palestinian-Israeli conflict, which exists even today. -
UN:Kashmir
The dispute over who owns Kashmir begun during Britain’s secession from British India. UN set up a monitoring body and ordered both nations back to the 1947 ceasefire line. However, violence resumed in 2002, and the situation is even more dire because both countries possess nuclear weapons. -
UN:Universal Declaration of Human Rights
The United Nations published the “Universal Declaration of Human Rights”. It was the first internationally agreed upon document regarding human rights and is often referred to, for instance, in the International Court of Justice. -
UN:N.Korea
North Korea attacked South Korea. The United Nations Security Council sent defense to South Korea, helping South Korea survive the war against North Korea and its allies, even pushing North Korea to as far as Pyongyang. The reason North Korea survived against the UN troops and South Korea is because China aided North Korea. -
UN:USSR-Afghanistan
The USSR invaded Afghanistan, and the UN Security Council proposed a resolution demanding Russia to withdraw. However, Russia vetoed the resolution. This shows the inability of the UN to come up with a consensus and therefore being ineffective. -
WTO(Created)
World Trade Organization was created to succeed the GATT during the Uruguay 8th round of Negotiations. This is mainly because the GATT’s field of action was too small and it needed an overhaul. -
IMF:Uganda-Aid
Uganda becomes first member to receive debt relief (approximately $350 million in net-present-value terms) under the HIPC Initiative, to which IMF is to contribute about $160 million. -
WTO:China+Taiwan
China and Taiwan both joined the WTO in this year. This event is particularly important because China is likely to become the new economic leader in the future. -
IMF:Loans-To-Turkey
IMF Executive Board approves a three-year $16 billion loan forTurkey, the largest one the IMF has extended to date. This shows the massive amount of money the IMF is willing to loan. -
WTO:US-Steel
WTO rules that duties imposed by the US on imported steel are illegal. US President Bush repeals the tariffs to avoid a trade war with the EU. -
IMF:Multilateral-Consultations
The IMF announces the first of its proposed multilateral consultations on issues of systemic or regional importance that would focus on global imbalances, with China, the euro area, Japan, Saudi Arabia, and the United States participating. -
WTO:China's-Imports
WTO upholds complaints by the US, European Union and Mexico that China had broken global free trade rules by imposing quotas and taxes on exports of certain key materials, including minerals like bauxite, magnesium and zinc. China complains.This-shows-WTO's-inability-to-create-action-in-all-circumstances,as-countries-will-assert-their-sovereignty-over-WTO's-decisions. -
WTO:Philipine-Alcohol
WTO rules that a tax levied in the Philippines on imports of alcohol breaks global rules on free trade on the grounds that it grants domestic producers who use local cane and palm sugar an unfair advantage. The US has previously urged the Philippines to open its market to foreign alcoholic drinks.This-shows-WTO-creating-economic-justice. -
IMF:Multilateral-Debt-Relief
The IMF approves 100 percent debt relief in the amount of $3.3 billion under the Multilateral Debt Relief Initiative for 19 countries: Benin, Bolivia, Burkina Faso, Cambodia, Ethiopia, Ghana, Guyana, Honduras, Madagascar, Mali, Mozambique, Nicaragua, Niger, Rwanda, Senegal, Tajikistan, Tanzania, Uganda, and Zambia.
