Inpact of first world war on the world economy
Answers
Answer:
The First World War destroyed empires, created numerous new nation-states, encouraged independence movements in Europe's colonies, forced the United States to become a world power and led directly to Soviet communism and the rise of Hitler.
Explanation:
The Economic Impact of World War I
World War I sped up American industrial production, leading to an economic boom throughout the 'Roaring Twenties. ' While the war was a devastating experience for France and the United Kingdom, these countries were able to recover economically without too much difficulty.
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Answer:
World War I took the United States out of a recession into a 44-month economic boom. 30 Before the war, America had been a debtor nation. After the war, it became a lender, especially to Latin America. U.S. exports to Europe increased as those countries geared up for war.
Explanation:
The First World War destroyed empires, created numerous new nation-states, encouraged independence movements in Europe's colonies, forced the United States to become a world power and led directly to Soviet communism and the rise of Hitler.
Putting aside the very real human cost, war has also serious economic costs – loss of buildings, infrastructure, a decline in the working population, uncertainty, rise in debt and disruption to normal economic activity.
The war changed the economical balance of the world, leaving European countries deep in debt and making the U.S. the leading industrial power and creditor in the world. Inflation shot up in most countries and the German economy was highly affected by having to pay for reparations.
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