The changing world economy since 1900

By 1914 the USA had become

By 1914 the USA had become the world's leading industrial nation. It overtook Britain around 1900 and gained huge strength from the First and Second W

Britain had led industrial production

Britain had led industrial production in the nineteenth century, but its economy slowly declined during the twentieth century. Staying outside the Eur

After 1945 the world economy

After 1945 the world economy was divided into two blocs. The capitalist bloc favoured private enterprise and minimal state interference, while the com

The term Third World was used

The term Third World was used from the 1950s for countries that were neither part of the capitalist industrialized world nor the communist industriali

The Brandt Report divided the world

The Brandt Report divided the world into the North, meaning the developed industrial nations, and the South, meaning most Third World countries. The N