CHANGES IN THE BALANCE OF THE WORLD ECONOMY WITHIN THE POSTWORLD WAR I PERIOD

The year of 2018 is the 95th anniversary of three important events in proceeding to establishment of Turkish Republic. These are Turkey Economy Congress, Lausanne Peace Treaty and the proclamation of the Republic. The year of 2018 is also the 100th anniversary of the First World War. In this study, the effects of World War I and how it shaped the balances in the world economy after the War are investigated. In this context, the study is composed of three chapters. The first chapter is devoted to investigation of World and Ottoman economies during the pre-War period, while the second and the third chapters focus on the War and post-war period respectively. After the War in which 65 million people were called of arms and 15 million civilians and soldiers were killed, states which had lost the War established autochratic, communist, fascist, and nationalist regimes; and then, they regarded and accelerated their industrialization processes as in the case of Germany and Russia. Whereas the USA emerged as a new and enormous power after coming out victorious the War on the one hand, Russia, Germany,Austro-Hungarian and Ottoman Empires collapsed on the other.