Download - Global Economic Depression Overview
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A BRIEF Look at the Global Economic Depression
“The Great Depression”
Beginning in 1929 and lasting into World War II
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Causes of the Depression of the 1930s
World economy was heavily influenced byUS loans and trade during & after WWI.
In the 1920s, the US economy boomed …but• industry & agriculture overproduced as
European nations rebounded after WWI which caused prices to decline & unemployment to increase
• demand decreased for consumer goods (gap between rich and poor in the US)
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Causes of the Depression of the 1930s
• the American stock market “crashed”• And businesses and banks began to fail
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• Demands for payments by the US on international loans and reparations destabilized European economies.
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The Results
• Banks failed . . . – Austria’s national bank
went bankrupt– All German banks closed
for a month– Over 2000 banks failed in
the US
• Agricultural and Industrial production dropped
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The Results
• Unemployment increased and wages dropped– In US and Germany
unemployment reached 30%– In Britain 2.8 million
were unemployed
• Global Trade slowed– Value of exports from
Latin America dropped 50%– Southeast Asian rubber
exports dropped over 50%– Japan’s total exports
dropped 50%
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