After the end of World War I in 1918, many countries faced significant political and economic changes. The war resulted in the collapse of empires, such as the Austro-Hungarian Empire and the Ottoman Empire, leading to the creation of new nations in Europe and the Middle East. The Treaty of Versailles, signed in 1919, imposed heavy reparations on Germany, which contributed to economic instability. The post-war period also saw social changes, including movements for women's rights and labor reforms. The 1920s, often called the "Roaring Twenties," was a time of cultural flourishing in many countries, marked by advancements in art, music, and technology.