The balance shifted in many ways both economic and political.
Before the war, Germany, Russia, and Austria had their empires. After the war Austria-Hungary was ended, Germany lost territory and was no longer a world power and was ruined, and Russia stopped being an Empire and became USSR. There was a new nation called Yugoslavia and many people in Europe started to get influenced by communism. France emerged as a proud victor from the war and along with Britain was the dominant force in Europe.
