Question

The great economic despression of 1929-30 began in the usa but it destreyed germany economy .how

Answer 1

German investments and industrial recovery were totally dependent on short term loan largely from USA.When the Wall Street Exchange fell ,this financial support was withdrawn.Due to the Great Economic Depression the national income of USA fell by half .German economy was worst hit by economic crisis . By 1932 industrial production was reduced to 40 per cent of 1929 level.Workers lost their jobs or were paid reduced wages.As jobs disappeared the youth took to criminal activities and total despair became commonplace.


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