Global Transformations: Post-WWI Economic Shifts & Totalitarianism
Classified in History
Written on in English with a size of 4.44 KB
Post-World War I Economic and Political Landscape
Post-War Economic Challenges
World economic dominance shifted from Great Britain to the United States. In Europe, the adaptation from a war economy to a peace economy was difficult due to the cessation of hostilities, rampant inflation, and high unemployment. The crisis was particularly severe in Germany.
International Efforts for Stability
To resolve the conflict and stabilize the European economy, the United States introduced the Dawes Plan in 1924. This plan significantly improved relations between France and Germany, leading to the signing of the Treaty of Locarno in 1925. Germany was subsequently admitted into the League of Nations in 1926, marking a period of cautious optimism.