explain the impact of first world war on Britain
Answers
1.Britain spent between 15-25% of it's accumulated wealth fighting the first world war.
2.It borrrowed very heavily, especially from the United States, and was lumbered with massive debts after the conflict.
3.During the war Britain could not produce goods to sell to foreign markets, after the war, Britain found that many of it's previous buyers had set up their own industries and no longer needed to buy from Britain.
4.Important industries like coal mining failed to modernize during the war.
5.During the war, British farmers had been encouraged to grow more crops. After the war, the farmers had excess stock due to which prices declined. Farmers, therefore, suffered.
Holaa Mate
❤ANSWER:
✨(i) After the war, Britain found it difficult to recapture its earlier position of dominance in the Indian market, and to compete with Japan internationally.
✨(ii) Moreover, to finance war expenditures, Britain had
borrowed liberally from the US. This meant, that at the end of the war, Britain was burdened with huge external debts.
✨(iii) The war had led to an economic boom, that is a huge increase in demand, production and employment. When the war ended, production contracted and unemployment
Hope it helps...!!!❤