The depression reached France later than it did some other nations, France remaining prosperous through 1931. Then, in 1932 the economy was hurt by a drop in tourists, a fall in exports of perfumes, wine, food and other items , and there was the decline in prices for what exports it could sell abroad.
How did the Great Depression affect France and Germany?
How did the Great Depression affect Germany and France? The Weimar Republic of Germany experienced severe inflation and unemployment rose to more than 4 million people ; France experienced political unrest, with six different cabinets formed in a 19-month period.
How was France affected by the Great Depression?
France suffered from a very severe decline in real economic activity in the 1930s . It was initially mildest than in some other countries, but the recession was highly persistent, with no sustained recovery. After the 1930–1931 crash, the industrial production index remained 30% below its 1929 peak (see Figure 1).
Why was France in a depression?
More even, many indices (wholesale prices, stock prices and issues, production in various fields) began falling in France before they did in the U.S.. According to these analysts the French depression was autonomous and resulted from under consumption and over investment caused by an increasingly unequal distribution ...
What year did France start feeling the repercussions of the Great Depression?
1.1 Theses about the precocity of the crisis in France.
According to J. Marseille (1980), the depression began as early as 1928 .
How hard was Britain hit by the Great Depression?
The north was hit so hard in the Great Depression because of the structural decline in British industry. ... Between 1929 and 1932 ship production declined by 90%, and this in turn affected all the supply industries such as steel and coal. In some towns and cities in the north east, unemployment reached as high as 70%.
What happened with banks during the Great Depression?
The Banking Crisis of the Great Depression
Between 1930 and 1933, about 9,000 banks failed —4,000 in 1933 alone. By March 4, 1933, the banks in every state were either temporarily closed or operating under restrictions.
How did the great economic depression affect Germany Class 9 in points?
Great Depression led to economic crises in Germany. By 1932, industrial production was reduced to 40 percent of the 1929 level. As a result, jobs were cut and many workers became unemployed. ... The savings of the middle class and salaried employees reduced drastically due to the depreciation of the German currency.
How did the depression lead to ww2?
Reparations imposed on Germany following WWI left the company poorer and economic woes caused resentment amongst its population. The Great Depression of the 1930s and a collapse in international trade also worsened the economic situation in Europe, allowing Hitler to rise to power on the promise of revitalization.
How did the Great Depression affect Germany economically?
The most obvious consequence of this collapse was a huge rise in unemployment . By the time Hitler became Chancellor in January 1933 one in three Germans were unemployed, with the figure hitting 6.1 million. ... Industrial production had also more than halved over the same period.
Is France the most depressing country?
According to BVA-Gallup, the French have become one of the most unhappy people in the world . With a negative index of -79, France is the latest ranking of the 51 countries surveyed by the institute. This is a historical record, since no country has ever reached such a low score in the 34-years history of the index.
How did Great Britain deal with the Great Depression?
Public spending was cut and taxes raised, but this depressed the economy and cost even more jobs. Finally in 1931 the pound was devalued by 25 per cent , helping exporters by making their goods cheaper abroad, and helping to start the recovery.
Why France is the best country in the world?
One of the reasons France keeps winning the ranking is its world-class health care system , which Dupouy just experienced first-hand. ... “Its (France's) tiresome bureaucracy and high taxes are outweighed by an unsurpassable quality of life, including the world's best health care.”
How did Germany respond to the Great Depression?
Germany was, indeed, especially hard-hit by the Great Depression. A major factor was the Treaty of Versailles , which was supposed to settle outstanding disputes following the cessation of hostilities in World War I. ... Germany reeled from the huge burden of reparations payments required of it as a condition of the treaty.
How did the US try to solve the Great Depression?
When the Great Depression began, the United States was the only industrialized country in the world without some form of unemployment insurance or social security . In 1935, Congress passed the Social Security Act, which for the first time provided Americans with unemployment, disability and pensions for old age.
What factors caused the Great Depression to spread around the world?
The factors that led to the Great Depression are: the stock market crash, banking panics and monetary contraction, the gold standard, and the decreased landing and tariffs . Explanation: The Great Depression happened during the 1920's and 1930's int he United States.
