The Great impression of the world was triggered by a sensation event, the stock market crash of 1929. Obviously, the international economic discontinue was not caused by that single event, but was the result of long time of economic instability. The United States fell from prosperity to penury in a few weeks, but the European nations did not cook the luxury to experience any prosperity at each. constantly since the resolution of the First World War, the nations of Europe suffer been upset of the cocoon spun by Americas commerce isolation. One of the major causes of the Depression was the isolation of Americas economy from international trade. This key factor substructure be sorted into two separate causes, the lack of an liberal market and the inability to maintain a stable up-to-dateness rate. Another major cause was the continuation of debts, loans, and reparations. These three factors be all connected with each other and have all contributed in weakening the Western economy. Never-theless, the European nations would not have plunged into economic collapse along with the United States if they had not depended exclusively upon the American economy.
The financial costs of World War I had left many European nations with enormous war debts.
assort nations such as Great Britain and France owed large sums of money to the American banks, sums that were too great to be repaid out of their insolvent economies. These nations relied on reparations from Germany to pay off their debts. However, Germanys economy had itself been ruined by the considerable cost of operating the war that it could not afford to tape drive any portion of its meager wealth and soon became deeply entrenched in postwar reparations. Any attempt to abase debts by these nations was met with outright refusal by the United States, who had...
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