After WWII

During the war both sides bombed cities. What would the consequences have been for the survivors of this destruction? How could people return to prosperity when their cities were in ruins?

At 8:15 a.m. on August 6, 1945, the United States dropped an atomic bomb on Hiroshima, levelling much of the city and killing about people. This attack — and a second on the city of Nagasaki — was so devastating that the Japanese government surrendered and World War II ended.

The Japanese people have rebuilt the city into an important industrial centre where 1.1 million people live and work.

Trade Agreements – Building World Wide Networks

RISE OF DICTATORS *Mussolini, Hitler, Stalin all rise to power in Europe *political exploitation of terrible post-WWI conditions *Treaty of Versailles RISE OF DICTATORS *Mussolini, Hitler, Stalin all rise to power in Europe *political exploitation of terrible post-WWI conditions *Treaty of Versailles WORLD WAR II *massive devastation to Europe and Russia, Japan *post war prosperity in Canada, U.S. WORLD WAR II *massive devastation to Europe and Russia, Japan *post war prosperity in Canada, U.S. UNITED NATIONS *goal of collective security *rebuilding of war torn countries *help with decolonization UNITED NATIONS *goal of collective security *rebuilding of war torn countries *help with decolonization

BRETTON WOODS CONFERENCE *institutions to guide global economy and rebuildingrebuilding *GATT/WTO, IMF, World Bank BRETTON WOODS CONFERENCE *institutions to guide global economy and rebuildingrebuilding *GATT/WTO, IMF, World Bank

Even before the end of WWII nations were working together to build an organization that would: Support people who wanted to choose their government Help countries co-operate on trade issues Protect smaller countries from invasion by larger countries Ensure no single country controlled the world’s oceans THE ORGANIZATION?

Every UN member is represented in the UN General Assembly, a body that meets every year and sometimes in special sessions. The UN Security Council has the main responsibility for the keeping of world peace. Peace keeping is a major UN activity, and Canadians are the world's best-known peacekeepers. Canada has contributed soldiers (and sometimes civilians) to every major UN peacekeeping operation.

Economic and Social Co-operation: The UN carries out research, helps member governments, and encourages co-operation between countries in such areas as trade, human rights, and refugees.

Government Involvement: Warned that the treaty after WWI was doomed to fail Unrestricted capitalism caused the collapse of global trade, worldwide unemployment, and the worst wars that history had ever seen

Government Non- Involvment Mistrusted government control Government should protect the market by ensuring that its rules and laws do not interfere with competition and the market would keep the economy healthy

Help countries devastated by the war. Provided billions of dollars to Western European countries in loans to help them rebuild. The World Bank continues to issue loans to countries that are struggling. These loans come with conditions that require government debt and corruption are reduced and countries establish a ‘Western-style’ economy.

Working together with the World Bank The IMF is responsible for regulating exchange rates and providing short term assistance. This is an agency of the United Nations.

The World Bank and IMF give structural-adjustment loans to developing countries on the condition that those countries carry out specified economic reforms. These reforms may include changing social policies, lowering trade barriers, and reducing government spending.

B70muug&feature=related B70muug&feature=related Evaluate the IMF and World Bank Assignment.

What Supporters Say: IMF has little political power – it is a funding agency IMF’s goal is to give financial advice and provide loans to countries – not make social changes IMF helps build economic stability = ability to form democracies IMF’s most important decisions require 70 – 85% majority. Groups of less developed countries could reject these decisions if they work together.

What Critics Say: IMF provides loans to military dictators – friendly to the USA and Europe IMF forces governments to cut social programs in their countries to reduce debt. IMF does not promote democracy, human rights, labour rights IMF becomes a tool of developed countries – therefore protecting the interests for multinational corporations