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WWI was Britain, France and Russia against Germany and Austria-Hungary. European governments borrowed from the US in 1918, owing more than 7 billion USD. In 1919 production of manufactured goods was 25% lower than in 1913
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The rise of communism was intended to get rid of class distinctions through a new political and economic model, where everyone would work for the benefit of everyone, directly opposing capitalism.
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The treaty that ended WWI, required Germany to repay all the damages that they had done during the battles. Germany had to pay 33 billion USD.
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Stalin heavily industrialized and militarized Russia during his rule. Production schedules for industries and farms were created as Russian peasants were forced to work in factories.
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Due to the unrestricted access to credit lines in the 1920s, the great depression occurred after WWI when consumer spending rose largely. Over time, the spending of consumers decreased however the manufacturing of products did not slow. Stocks went down and investors worried about their money and sold all their stocks. Creating a mass panic known as a "Bank Run". The Big Sad made everyone poor because they had no jobs, nobody was buying stuff anymore and the value of products was decreasing.
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The funny mustache man did some not-so-funny things. Such as killing the Jewish (Not funny). The Germans elected this man because of his funny mustache and crippling economic debt in 1933, he then dissolved the parliament and became KING!!! (Dictator). During Nazi Germany, technology was developed that we still use in present times such as the beneficiation of iron ore and the production of synthetic rubber.
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The funny mustache man did this, this was a not-so-funny thing. He controlled everyday life in Germany and convinced many Germans they belonged to the Aryan master race. He took over Austria, Czechoslovakia and invaded Poland. During WWII unemployment increased dramatically
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44 representatives from countries during WWII were trying to determine how to prevent economic turmoil that may lead to another world war.
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The head of the IMF is nominated by the EU and has a board of 24 directors. It is funded by the countries that are members that pay based on their wealth. Contributors that pay more have more votes. Its purpose was to help countries recover from WWII with a stable financial footing. its current goals are to provide emergency loans to countries after disasters.
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Owned by the governments of the members that provide funds, the US government is appointed as the head of the bank. The original goals were to lend money to help war-damaged countries recover, speed up progress in economics and industrialization, develop natural resources and negotiate long-term loans for countries to increase productivity. Its purpose was to help countries recover and gain a stable financial footing during the aftermath of WWII.
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This Agreement stated to gradually remove tariffs and barriers to trade between countries. It increased exports and imports creating a more wealthy world economy.
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The World Trade Organization replaced the GATT, it ensures trade follows rules and processes smoothly. It raises the standard of living and creates jobs. It develops countries' trade capacities.