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World War 1 officially brought the USA into the forefront, as WWI destroyed Europe while leaving America untouched, America also benefitted from wartime production due to WWI's status as a total war.

WWI bankrupted many European countries, including Germany, who saw the greatest inflation in world history. Attempts at foreign aid were futile.

WWI resulted in the policy of protectionism, putting up huge tariffs to destroy the influx of foreign goods. The idea was to stimulate domestic production and consumption, but world protectionism only deepened the severity of the Depression of the 30's.

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