Causes of world war 1 research paper

Student Answers thomasrichins Student Also, it is often said that the Treaty of Versailles only prolonged the other half of the war, World War II, because it gave reasons for Germany to rise up again and try to take over Europe. Truly, the two world wars could be considered one war with a prolonged truce in the middle.

Causes of world war 1 research paper

Odious debt is unfair debt resulting from illegitimate loans.

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A useful summary from Jubilee USA: Odious debt is an established legal principle. Legally, odious debt is debt that resulted from loans to an illegitimate or dictatorial government that used the money to oppress the people or for personal purposes.

They cannot legitimately expect repayment of such debts. Great Britain was also denied similar claims against Costa Rica in Many poor countries today have started their independent status with heavy debt burdens imposed by the former colonial occupiers.

South Africa as another example, has found it now has to pay for its own past repression: But it is not just South Africa paying for this; surrounding countries that have been destabilized from this are paying debts incurred to deal with it. The organization Action for Southern Africa summarizes this clearly, albeit in a report from Apartheid wrought vast destruction across the region; now the people of Southern Africa want to rebuild.

In a remarkable spirit of reconciliation, the people of Southern Africa want to forgive the horrors of the past and look forward.

Causes of world war 1 research paper

But the banks, international financial institutions, and individual countries which lent to both sides in the apartheid war are demanding repayment. After the Second World War, the United States allowed Britain to repay debt at a very low rate so that it could rebuild. Inthe victorious allies met in London to cancel most of Germany's debt, so that it could rebuild.

Now the nations of Southern Africa want to rebuild a post-apartheid society, but the creditors of today, are not willing to offer them the space Britain received from the US and the Allies gave to Germany. Various other nations have found that they have to pay debts incurred by their previous military dictators many of which were installed as clients of the rich countries.

As Steve Mandel, of the New Economics Foundation argues, because so much of these loans were knowingly given to unaccountable and corrupt leaders, there should be a shift in discussion from odious debt to odious lending, and thus there should be more of a spotlight on the banks who made large loans to illegal regimes, in effect, sustaining them.

Mandel also notes the scale to which odious debt has been overpaid, and is quoted at length here: Long after odious debts are technically off the books, subsequent generations are still effectively paying for them.

This [New Economics Foundation] research paper examines 13 clear cases that present a picture of the extent and impact of odious lending. This means that people in these—often desperately poor—countries end up paying three times for loans ostensibly taken out in their name: Also, if debt cancellation only comes through the procedures of the Paris Club and the Heavily Indebted Poor Countries HIPC initiative, they pay a fourth time when IMF conditionality imposes the often disastrous policies of trade and capital account liberalisation, privatisation, and restrictions on social expenditure.

Back to top Mismanaged Lending Further debt resulted from mismanaged spending and lending by the West in the s and 70s. As summarized from Jubilee and reposted here: Oil-producing countries, pegged to the dollar were affected as the value of the dollar decreased.

Inthe oil-producing countries hiked their prices as a result, earning a lot of money, which they put in to western banks. Interest rates started to plummet resulting in more lending by banks to try and prevent a crisis. A lot of the borrowed money went to western-backed dictators, resulting in little benefit for most people.

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In Mexico defaulted on its debt payment, threatening the international credit system. The IMF and World Bank stepped in to Mexico and other nations facing similar problems, prescribing their loans and structural adjustment policies to ensure debt repayment.

The poor have suffered the most as a result of the harsh conditions of structural adjustment. Most loans to the third world have to be paid back in hard currencies which do not usually change too much in value, e.

Poor countries have soft currencies values which can fluctuate. Paying off loans implies earning foreign exchange in hard currencies. Combined with falling export prices for many poor countries, debts become even harder to pay off. Refinancing loans implies taking on new debts to service the old ones.

Structural adjustment advice in the past from the IMF and others, has led to the cut back on important spending such as health, education, in order to help repay loans.

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This has implied a downward spiral and further poverty. Economists often refer to a moral hazard of forgiving debts, because it may encourage people to take on new loans and refuse to pay. If banks could lend to apartheid South Africa in the face of global opposition and global calls for sanctions, and still collect on the loans, then the signal to international banks is that they can lend to any regime, no matter how repugnant.

There is a moral hazard Paying twice for apartheidAction for Southern Africa, May It is not just the debt that is an issue for poor countries; it is the harsh conditions that come with it, that for years, have been known to make things worse, not better. The well-respected Martin Khor, director of the Third World Network describes this further in a 3-minute video clip: These moneys are often placed in foreign banks and used to loan back to the developing countries.

Many loans also come with conditions, that include preferential exports etc.World War I was a direct result of a tangled system of secret alliances.

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Beginning after the unification of Germany in , many European nations began secretly allying themselves with each other. Fulfillment by Amazon (FBA) is a service we offer sellers that lets them store their products in Amazon's fulfillment centers, and we directly pack, ship, and provide customer service for these products.

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Warfare refers to the common activities and characteristics of types of war, or of wars in general. world war i. updated january jump to: timelines / primary documents, letters, & diaries.

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Causes of world war 1 research paper
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