The effects of the Great Depression

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  • Created by: Nitika
  • Created on: 28-10-12 17:26
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  • The effects of the Great Depression
    • The American Stock Market Crashed in 1929
      • USA was the more prosperous country in the world- saw billions of dollars loaned by the USA to help European countries 
      • Companies were selling lots of goods, so people borrowed money to buy shares in them
        • Oct 1929 the selling was frantic + prices dropped- people no longer wanted to buy shares at high prices
          • start of the GD- global economic downturn
      • But problems started to emerge- overproduced-1929, the American stock market crashed
    • The Depressions caused big problems in USA
      • In 1929 the USA stopped sending money abroad + called its loans
      • By 1930s nearly 2000 banks collapsed as people rushed to withdraw savings
    • The Depression affected other industrial countries
      • Most industries countries were affected- banks failed, industries struggles + trade ground to a halt
    • The Depression made the League’s work more difficult 
      • The depression meant that countries lie Gb + F were less willing to help the League by getting involved in resolving international conflicts

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