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Knickerbocker Crisis
Was a United States financial crisis that took place when the New York Stock Exchange fell almost 50% from its peak the previous year. Spread throughout the nation when many state and local banks and businesses entered bankruptcy. -
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World War 1
Durring and after the war, 304 billion was the estimated cost of the war. Many countries owed USA money, as a result of trying to speed up their development. Competition for more resources and trade led to WW1. -
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Russian Revolution
Past wars cost a large amount of tax dollars and manpower. This series of war caused oppression among the people and caused suffering in the country's economy and government. Industrial production drops, trade stops and workers flee the country. This also led to starvation and lack of public order which led the government to using a more communist rule. -
Treaty of versailles
The treaty placed a number of restrictions on Germany and put them in financial ruin and put them in a state of hyper-inflation. It also made them responsible for all damage in WW1 so in turn they had to repay all the damage. This caused inflation to sky rocket to the point that the average German could not live. -
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The Great Deppresion
Standards of living dropped and as much as one-fourth of the labour force in industrialized countries was unable to find work in the early 1930s. mostly caused the end of the international gold standard. Personal income, tax revenue, profits and prices dropped, while international trade plunged by more than 50%. -
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World War 2
Mostly ended the Great Depression. Gave jobs to thousands of men who were paid and provided money for their families and woman who worked in the factories who built the weapons and vehicles. This also boosted the stock market which before crashed witha high unemployment rate. -
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The Cold War
Started right after WW2 and lasted for almost the entire 20th century.It caused the USSR's economy to drop from the huge spending of military research against U.S.A. -
General Agreement on Tarifs and Trade
-Trade rules were implemented to encourage global trade , so we could get to where we are today
-Implied the idea of free trade -
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Korean War
The war boosted GDP growth through government spending, which in turn constrained investment and consumption. was able to boost the economy of both Japan and the US. The Korean War also legitimized the United Nations and led to further expansion of military power. -
The World Bank
the World Trade Organization was helping to regulate trade through services such as telecommunications and banking. The WTO also helped create rules to protect copyright and intellectual property. This encouraged more trade and generated more money in the global economy. -
World Trade Organization
uses the process of trade liberalization to increase world trade by reducing trade barriers and helping goods to be shipped easily. The world trade helps to make sure trade agreements are followed through and negotations are made to settle trade disputes. This would help with economical globalization because it helps to create a promising way of trade as well as providing a wide range of markets. This process applies to many other important sources.
