American loans helped Europe recover from the economic crisis after the war 1.Rebuild industry 2.Increased employment 3.Increased international trade 4.Increased profits 1921-1922 Washington Conference USA, Britain, France, and Japan agreed to limit the size of their navies. (limited the tonnage of battleships--> USA and Britain=5, Japan=3, and France and Italy=1.67 (Unit=hundred thousand tonnes) 1922 Rapallo Treaty The USSR and Germany re-established diplomatic relations