Question

what ere the major transformation that happened in the world economy during first world war?

Answer 1

The following are the major transformations that happened in the World during the First World war:

• The war led to the snapping of economic links between some of the world’s largest economic powers which were now fighting each other to pay for them
• Britain borrowed large sums of money from US banks as well as the US public
• US transformed from being an international debtor to an international creditor
• industries developed in India and Japan after the war to cater to the demands in Britain
• Several industries which had gained during the war period like wheat of Australia, agained disrupted after teh war was over