Great Depression and its effect on germany
Answers
Heya!
The Great Depression happened in the US when it lost most of its shares.
Effect on Germany:
Germany, got most of its loans from the US. Hence, when the Great Depression happened, it reverted back all the loans it ever gave.
Therefore, Germany was not funded as much any more and therefore grew very weak.
The effects of great depression were as following-
(i) The National Income of USA fell by half.
(ii) Factories shut down,exports fell, farmers were badly hit.
(iv) Speculators withdrew their money from the market.
# The German economy was worst hit by the economic crisis
1. industrial production came down to less than 40 percent compared to
1929.
2. workers either lost their jobs or were paid less .
3. 6 million people were left without employment.
4. total despair became common place.
5. savings of salaried and pensioners began to diminish when value of
money went down.
6. small businessmen and self employed were ruined.
7.peasants were affected due to sharp fall in prices.
8. women were in great despair as they could not feed their children.