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America had a lot of money! Avoided the destruction that Europe experienced during WWI Made a lot of money helping to rebuild Europe Made massive loans.

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Presentation on theme: "America had a lot of money! Avoided the destruction that Europe experienced during WWI Made a lot of money helping to rebuild Europe Made massive loans."— Presentation transcript:

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2 America had a lot of money! Avoided the destruction that Europe experienced during WWI Made a lot of money helping to rebuild Europe Made massive loans to France, England & Germany Why not Soviet Union? Poised to become a world power But isolationist urge strong

3 At the end of WWI, the British Empire was at its greatest extent They took over Palestine, Iran & Iraq from Ottoman Empire BUT Britain was dramatically changed 2.6 million casualties Women entered workforce Inflation hurt people on fixed incomes

4 6.97 million casualties Political desire to avoid another war with Germany, at any cost Appeasement Policy France didnt protest when Hitler violated the Versailles Treaty Built Maginot Line along German-French border Elaborate system of forts to protect against German attack

5 Germanys new government = Weimar Republic Democratic republic with an elected president and parliament, the Reichstag Government was blamed for losing WWI and the Versailles Treaty Economic problems Couldnt pay war reparations In 1923, France occupied Ruhr industrial region But by 1928, Germanys economy had recovered to 1913 levels

6 China Last Emperor abdicated in 1916, leaving regional warlords ruling country Encouraged by USSR, Chinese Communist Party started in 1925 Chiang Kai-Shek took over most of country while fighting war against Communists

7 After WWI, militarism, racism and nationalism became powerful forces in Japan Began establishing their empire Korea, 1904-05 German colonies in Pacific, WWI Manchuria, 1931 China invaded, 1937

8 Created out of Versailles Treaty Goals Disarmament Prevent war through collective security Settle disputes diplomatically League had no military force of its own (Great Powers) Incapable of preventing aggression, during 1930s Member states = 44, including UK, France, Italy But NOT USA, b/c Dems and GOP opposed it

9 Wages were not keeping up with inflation Falling crop prices hurt Europes recovery Economic Nationalism Tariffs were high That meant European countries couldnt sell to US, each other High inflation + high tariffs meant European countries couldnt afford US goods

10 Causes Inflation (prices up) Wage stagnation High debt levels of individuals & business (interest payments) Businesses began to fail = unemployment = less $ being spent = more business fail International trade declined due to high tariffs NY Stock Exchange collapsed on 10/29/29 (Black Tuesday)

11 Worldwide effect Prices and wages plummeted Unemployment skyrocketed Germany stopped payments to allies European countries stopped interest payments to US US banks began closing as people demanded money from them

12 America raised tariffs, cut off Europe from loans British raised tariffs, increased trade within Empire French werent as industrialized, so less effect; but political unrest was high Germanys Weimar Republic died Inflation made $ worthless; currency was worth more as bulk paper Strengthened National Socialist German Workers Party (Nazis)


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