Economic Turmoil Between World Wars: The Interwar Period
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The Interwar Period: Economic Turmoil (1918-1939)
Global Economic Context
Following World War I, European countries faced devastating human losses, rampant inflation, and low production. They were burdened by significant war debts and desperately needed credit to finance their reconstruction efforts. The crisis was especially severe in Germany, which was unable to pay war reparations, facing hyperinflation, and struggling with immense debts.
In contrast, the United States emerged as the world's leading economy, becoming a hegemonic power in international trade and finance. The dollar became the main currency for international transactions. European countries were obligated to repay their war loans to the USA, and US agricultural and industrial... Continue reading "Economic Turmoil Between World Wars: The Interwar Period" »
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