The correct statement will be that there was a downfall in the economy immediately after the World War I in the Twentieth Century.
The different countries had made their trade preferences at the end of the World War I by choosing their favorites and aliens accordingly.
There was a significant downfall in the global economy which was faced by most of the countries as the inflation rose to a greater extent.
One of the most prime examples of economic conditions of this phase can be explained with The Great Depression faced by the United States of America in 1929.
Global economy experienced inflation as prices of commodities rose significantly and the purchasing power of countries lowered with diminishing GDP.
Hence, the correct statement is that the overall economy experienced a downfall after the World War I.
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