1. The Great Depression:
- WWI left many countries with massive war debts, straining their economies.
- The war also disrupted international trade, leading to economic instability.
- The United States, which had been a creditor nation before the war, became a debtor nation, making it more vulnerable to economic downturns.
- The stock market crash of 1929 and the subsequent banking crisis triggered the Great Depression, a global economic crisis that lasted throughout the 1930s.
2. World War II:
- The Treaty of Versailles, which officially ended World War I, placed harsh conditions on Germany and was widely resented by the German population.
- The economic instability and social unrest in Germany led to the rise of Adolf Hitler and the Nazi Party, who promised to restore German pride and power.
- The Nazis' aggressive expansionist policies eventually led to the outbreak of World War II.