The Effect Of The Great Depression Worldwide

1024 words - 4 pages

What was the world’s greatest economic disaster and left millions of citizens unemployed for years? The Great Depression was a major economic disaster which left the people of the world shocked. Many countries were already left in a bad position due to the effect of World War I. Countries that bought and sold on the international market were affected. The United Kingdom, France, and Germany were just a few of the affected countries that had a difficult time getting their country back to great economic shape.
The United Kingdom finished World War I a few years prior to the Great Depression, and was a big factor in the length of the depression. The reason why the U.K’s depression’s length was so long was because of the debt that the European countries had grossed during World War I. This debt that had to be paid, left the Europeans in a sticky situation, as they tried to rebuild their economy to what it once was. The effect of this debt and other economic problems had caused the unemployment rate to accelerate from one million to 2.5 million unemployed UK citizens, some cities even reached rates from as high as 70%. When other countries received the hit from the depression, Britain couldn’t export nearly as much as they used to. This was a chain reaction that caused the world to be effected as a whole, and what caused Britain to get hit so strongly. Great Britain didn’t use their Government revenue expansion very strongly to an extent, however later on did increase the military spending extremely. Flashback to mid 1920’s, Britain had decided to return to the gold standard after WWI, and implied that the pound was overvalued and the overvaluation was leading to trade deficits, and a massive gold rush. To help settle down this gold drainage. the Bank of England had raised interest rates substantially. Due to depression in countries around the world, Great Britain had to suffer for it.
France had also suffered greatly, along with all the other countries around the world. France, like Great Britain, also had to recover from WWI. During the early 1930’s France had to depend on Germany for reparations, however when the reparations finished the Depression then took place in 1931. The French’s recovery began in 1932 however was cut short when production and prices dropped dramatically during 1933-1936 due to the power of The Great Depression. There have been multiple riots in France such as, The night of 6 February 1934, as well as the Popular Front riot. During the February riot 16 people were killed, and over 2,000 were injured by the police and guards. However the Popular Front was successful and took over the government under the leadership of Leon Blum. Because of the Popular Front’s riot, there was a mixed government, when concluded in France being the last country to recover from the Depression. France was also really big in tourism, which was a major income for them. During the time of the Depression, no one could afford to travel, this had...

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