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The World in the Great Depression Chapter 13, Section 2

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The Great Depression

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Before the Crash Countries having difficulty before crash Allies in debt to US Many nations still recovering from WWI

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How the Depression effects the World Britain had high interest rates and unemployment Germanys reparations led to high inflation, crippled economy Japans economic depression forced banks to close

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Smoot-Hawley Tariff Act, 1930 Hoover signs into law Place a high tax on imports Encouraged Americans to buy American products Backfired: other nations increased their tariffs on American goods, trade at a stand still among nations

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The World wide depression The postwar era left many countries politically unstable. As the Depression continued, unrest grew worse.

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Political Impact Extremist political groups gain strength Germany: Nazi party blamed Jews Italy: dictator Benito Mussolini tightened control of the nation Widespread misery worldwide Ideal conditions for rise of leaders who promise to restore their nations to glory Worse crisis lay ahead