How did GDR debt owed to capitalist countries change from 1970 to 1989?
It rose to astronomical proportions- 1970=DM 2.2 bil, 1980=DM 30 bil, 1989= DM 46 bil
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Between 1975 and 1985, what percent of GDR's foreign trade did the USSR account for?
29 to 34 percent
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Between 1975 and 1985, what percent of GDR's foreign trade did western countries account for?
31 - 36%
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Why was COMECON problematic for the GDRs economy?
GDRs socialist partners in comecon took much of its industrial output, 85% of its machine production
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What proportion of the GDRs raw materials did the USSR provide and what effect did this have?
70% - any disruption would be significant
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How did GDR ( like other COMECON members) attempt to modernise and develop economic growth?
Imported western technology financed by credits to be paid later i.e in a year's time. Increased production would help to repay the credits
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Did the imports of western technology help the GDRs economy?
No, they only served to increase GDR debt to the west which doubled between 1977 and 1981
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How did interest rates change between 1977 and 1981 and what effect did this have on national debt?
increased from 5.6 to 13.9 percent- exacerbated national debt
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What was the GDR's trading deficit with the USSR by 1981?
2.3 billion roubles
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What was the problem with this amount of debt?
The GDR could never export enough to finance it because of inefficient production techniques and limited demands for its products outside the soviet bloc
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What effect did the rise in GDR exports have on the domestic market?
The rise of around 9% was to the detriment of the domestic market - food/goods shortages
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Other cards in this set
Card 2
Front
Between 1975 and 1985, what percent of GDR's foreign trade did the USSR account for?
Back
29 to 34 percent
Card 3
Front
Between 1975 and 1985, what percent of GDR's foreign trade did western countries account for?
Back
Card 4
Front
Why was COMECON problematic for the GDRs economy?
Back
Card 5
Front
What proportion of the GDRs raw materials did the USSR provide and what effect did this have?
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