How Did the First World War Affect Britain

The First World War was a global war centred in Europe that began from 1914 and lasted until 1918. It probably involved most of nations in the world, which were divided into two opposing alliances: the Allies and the Central Powers (Willmott, 2003:10-11). Eventually, on 11 November 1918, Germany signed an armistice, and Allies won the war. As a consequence, the First World War not only transformed the world force pattern, but also generated many problems that affected nations’ development all over the world. Britain was also affected immediately by the war in terms of British society, politics and economy. This essay will focus on the impacts of the war in aspect of British post-war economy. Firstly, the essay will examine that due to the depression of traditional industries, British economy experienced a further recession after the war. Secondly, it will discuss that how the war changed British global economic standing. Thirdly, it will explain the impact of the war on overseas investment and trade. This essay will evaluate that, despite Britain won the First World War eventually, it paid a heavy price that affected its development during the following years.

The First World War brought a huge effect to European countries, as well as affecting the Great Britain that resulted in a huge amount of people and material losses. According to Nicholson (2001:248), in the First World War, the Great Britain mobilized about 5.4 million people into the war, approximately 700 thousand solders were killed, and 1.66 million were wounded; furthermore, 35.3 billion dollars was consumed by the war, and the total shipping lost was roughly to 8 million tons.

Britain probably was one of the beneficiaries in the world that benefit most from the industrialization, and traditional industry had always been a strong support for the GDB in Britain during that time. In 1875, 47 per cent of pig iron and 40 per cent of steel in the world was contributed by Britain; and the United

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