Summary
Highlights
Communist Russia was viewed with suspicion, leading to intervention in the Russian Civil War and France losing a potential ally. Germany faced catastrophic hyperinflation from 1921-1923 due to war debts and reparations, worsened by the government issuing more paper money.
The period between 1920 and 1923 was marked by high international tensions due to the difficult implementation of the post-World War I peace settlement. Key issues included the US rejection of the Paris Peace Settlement, isolation of Russia due to communist fears, the rise of Mussolini's territorial ambitions, and various border disputes.
Bonito Mussolini founded the fascist party in 1919 and ruled Italy from 1922, establishing a dictatorship and supporting Hitler. US isolationism after the Senate rejected the Paris Peace Settlement and League of Nations membership left France insecure and isolated, as Britain also withdrew from European affairs.
In 1923, France and Belgium occupied the Ruhr after Germany failed to pay reparations, leading to passive resistance and worsening German inflation. The Corfu Incident saw Mussolini occupy Corfu after Italian deaths, defying the League of Nations and highlighting his disregard for peace settlements.
Turkey under Mustafa Kemal challenged the Paris Peace Settlement by retaking territory, leading to the Treaty of Lausanne. Tensions also rose between the USA and Japan over East Asian expansion. The Washington Naval Conference (1921-1922) aimed to reduce naval arms races with treaties limiting naval capacities and guaranteeing China's protection.
The Genua Conference (1922-1923) failed to address post-war economic problems due to disagreements and withdrawals. The Rapallo Pact (1922) between Germany and Russia allowed military and industrial collaboration, alarming France and Poland. The Treaty of Lausanne (1923) replaced the Treaty of Sèvres, recognizing Turkish independence and ending reparations.
Post-war economic chaos affected all major powers, leading to social unrest. The rise of Bolshevism in Russia and the founding of the Comintern caused widespread fear of communist revolution in Western nations.
The US refusal to ratify the Paris Peace Settlement undermined the League of Nations and French security. US insistence on war loan repayments pressured European allies to demand German reparations, which Germany couldn't pay. France prioritized keeping Germany weak, leading to actions like the Ruhr occupation, which exacerbated German inflation and strained relations with Britain.