Please enable JavaScript.
Coggle requires JavaScript to display documents.
Impact of Great Depression - Coggle Diagram
Impact of Great Depression
Majority of Europe dependent on USA, as they had borrowed money for war effort and rebuilding
Wall Street crash saw economies collapse
All countries lost valuable markets for trade, particularly luxuries
led to major unemployment due to dropped profits
People began to lose faith in Governments
USA
Wall street crash led to 13 million people being unemployed
Created problems for President Hoover and Republican party, as they preferred not to interfere with business or welfare
Due to this, President Roosevelt was elected
He helped farmers and businesses with the "New Deal" programme
However USA became more isolationist under Roosevelt, less reliable for Europe countries
Roosevelt needed support of Isolationists to get "New Deal" passed
Germany
Weimar government broke down
People turned to extremist political parties to solve their problems
This included Hitler and Nazi party
Promised work and a strong Germany
Went from 6% of vote in 1923, to 36% in 1933
Italy
Depression hit Italy hard
To take peoples mind off depression Mussolini went about increasing power of Italy abroad
Promise of new Roman Empire
Japan
Felt effects of depression on luxury goods like silk
To fix problem, Japanese army invaded Manchuria to access raw materials and markets to create a protected economy