Great Britain's: Political Situation/ Economy/ Empire 1945

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  • Created by: Manja
  • Created on: 18-10-12 18:37

Great Britain's economy

  • 1933 = £100 million to Britain's defence, which was 3% of Britain's GNP
  • 1945 = Expenditure rose to £6.1 billion increase in productivity 1938 -> 1944
  • 1945 = Owed about £3 billion to its overseas creditors
  • 1945 = GB faced payments deficit of £875 million
  • Great Britain borrowed money from the US, this made GB 'dependent' on US and was a significant impact on GB's international policy-making after 1945. 
  • Autumn 1945 = USA offered to reduce the Lend Lease debt to $650 million 
  • USA had pursued a policy of self-imposed isolation from international affairs
  • Loans from US, overspending £2,000 million per year and exports lost 2/3 of value 

Political situation and Empire

  • 1942 = Burma, Singapore, Hong Kong and Malaya were all occupied by the Japanese
  • USA suggest that GB

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