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| <center>[[Image:Alliespic.jpg]]</center>
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| :The onset World War I brought along the end of the first period of globalization, known as Globalization I, as most of the great powers of the time were enthralled in the power struggle in Europe between the Allies and the Central Powers.
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| <center>[[Image:Allpowers_intro3.jpg]]</center>
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| After the intense fighting ended, the portrait of the world changed drastically.
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| *The Allied Countries wanted reparations from the Central Powers, covering the Allies' Wartime Expenses
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| *In Germany and Austria, two of the losing countries, the economies experienced uncontrollable downward spirals. Forced with the crippling weight of wartime reparations, the Austrian and German goverments simply printed more and more money, leading to hyperinflation.
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| *In America, public opinion turned towards a policy combining nationalism and isolationism, hoping to keep America out of conflicts like World War I.
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Latest revision as of 23:25, 10 April 2006
