What were the economic effects of WWI?

Answer 1

Economical and Social Effects of WW1

• Due to WWI, Britain's role in international trade was severely diminished. This affected the British economy badly, especially the Staple Industries (Coal, Iron/Steel, Textiles etc).
• During the war, the disruption of trade had led former overseas customers to Britain (i.e. Russia and the Far East) to reduce the amount of imports from Britain. In the Far East, markets for British goods had been penetrated by new competitors such as Japan who had already seperceded the British in industry
• After the war, problems for British exporters worsened as foreign countries protected their economies with tariffs and govt subsidies.
• Britain had accumulated £1 billion of debt because of the war, owed mainly to the USA
• After a brief post-war boom, in the Winter of 1921-22 a slump set in as world demand contracted. The result of this was large scale unemployment in northern England, south Wales and south-west Scotland

Answer 2

World War i ended when the Germans signed an armistice (truse) on November 11, 1989. Later in the Treaty of Versailles (1919) the Germans reluctantly agreeded as a result the treaty called for germant to pay war reparations of cosis to the victorious nations for its part in starting the war. These war reparations grew diffcult fot the Germans to repay so they paid the reparations in yearly installments. The Tready required that coloies installments. The Treaty required that colonies and part of its land in Europe.

Answer 3

The United States, removed by an ocean from the center of the war and joining late in the war, did not suffer the catastrophic losses of the major belligerents. U.S. losses in life were great, more than 100,000, but this was small in comparison to the millions lost by the other major powers. Furthermore, the United States was a great continental power, with great population and resources. The war stimulated the U.S. economy, increased employment and wages, and brought great profit to industry. The United States emerged from the war as clearly the greatest power in the world as well as the creditor nation of the world. These circumstances thrust the United States into a position as world leaders, while the American people still assumed that Europe had little to do with America. President Wilson had a vision that would have involved the United States extensively in world affairs through the League of Nations, but he was unable to find popular support.

Answer 4

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