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What wasThe Great Depression?
Was worldwide economic downturn that began…
What wasThe Great Depression?
Was worldwide economic downturn that began in 1929 and lasted until about 1939.
1929
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1930
Economic sanctions were not palatable and to take on aggressors by force was not, at least in the
early 1930s when the Depression was tightening its grip, a viable option.
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1932
In France, a moderate government was replaced by a radical left-wing one in the May of the same year
1931
British Labour government broke up in the financial crisis of 1931 and was almost wiped out by the election, formation of a ‘National Government’.
In Britain, iron and steel production fell by 50 per cent, and political support shifted to right-wing parties.
In Japan, in 1931, 50 per cent of factories closed, and silk prices fell by two-thirds by 1932.
1924-1929
Germany had borrowed £9,000 million
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Other Problems
In Belgium and Poland, the impact of the Depression led to new government initiatives.
The Depression heightened fears of the USSR’s capacity for fostering the spread of Communist revolution
Soviet propaganda claimed that the Depression demonstrated the inherent failings of Capitalism and the success of communism
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Solution
The responses to the Depression by the democratic states seemed to lead back to an old-style diplomacy – alliances and agreements outside the League.