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Ww1 International Business Report

1930 Words8 Pages

There have been a lot of wars over the years. The two wars that made a huge impact on International Business were World War 1 and 2. I’m going to talk about how businesses react to the outbreak of the wars, how finances and shipment and manufacturing goods were and the global economy during this time.
World War I, also known as the Great War or First World War started in July 28, 1914 and ended November 11, 1918. There were two sides of this war, the allied and central power. The Allied powers of the war were the United States, Great Britain, France, Russia, Italy, Romania, and Japan. The Central powers of this war were Germany, Austria-Hungary, Bulgaria and the Ottoman Empire. The main cause of this war was the assassination of Archduke …show more content…

What caused the Great Depression was when the stock market had crashed. When this crashed, it caused America to sell less and less goods. “In 1939, when World War II erupted in Europe with Germany’s invasion of Poland, numerous economic indicators suggested that the United States was still deeply mired in the depression. For instance, after 1929 the American gross domestic product declined for four straight years, and then slowly and haltingly climbed back to its 1929 level, which was finally exceeded again in 1936.” (Watkins, 2002; Johnston and Williamson, 2004) Because of this, this cause unemployment rates to go up, half of all banks go out of business and the stock market to lose its value. “The Great Depression of 1929 devastated the U.S. economy. Half of all banks failed. Unemployment rose to 25 percent and homelessness increased. Housing prices plummeted 30 percent, global trade collapsed by 60 percent, and prices fell 10 percent. It took 25 years for the stock market to recover.” (Amadeo, 2018) This was a horrible time for everybody. Nobody was able to get jobs, everyone was struggling with money. Stock markets lost its value. It was a very hard time and it was even harder because it lasted for such a long period of time. Once World War II began, “the war brought full employment and a fairer distribution of income. Blacks and women entered the workforce for the first time. Wages increased; so did savings. The war brought the consolidation of union strength and far-reaching changes in agricultural life. Housing conditions were better than they had been before.” (Starr,

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