Question

How did withdrawal of US loans affect different countries of the world?

Answer 1

Answer:

United States

US attempted to protect its economy in the depression by doubling import duties, also dealt with another severe blow to world trade. Here it intensified the slump in agriculture and raw material prices.

Answer 2

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1. It led to failure of some major banks and the collapse of currencies such as British pound sterling.

2. In Latin America it intensified the slump in agriculture and raw material prices.

3. US attempt to protect its economy in the depression by doubling import duties, also dealt with another severe blow to world trade.

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