How did great economic depression affect Germany ?

Question

Answer

Several reason for great economic depression. in 1929 when the wall street exchange crashed the US . withdraw all loans .people rushed into sell their shares as they thoughtthat price wouldgo down drastically .
in germany
the factories were shut down ,export fell ,farmers were affected badly and speculators withdraw their money from the market .so it is one main reason for affect in germany.

Answer

The German  economy was particularly vulnerable, means it was built largely on foreign capital, mainly America. So when the great wall Street crashed of 1929,hit the impact upon German economy. Due to it economy of Germany was immediately damaged deeply.  American banks and other financial institution began to calling in their debts, but Germany couldn't afford to pay them back.  Also, German industry could not able to find any ready markets for its imported goods. The results were disastrous: industrial output ground to a halt, causing mass unemployment, bank failed, wiping out the saying s of millions. As well as poverty and unemployment increased.

Answer

Please give me answer

Answer

The Impact of the Great Economic Depression on Germany

The Great Economic Depression, which began with the Wall Street Crash of 1929 and lasted through the 1930s, had a profound impact on Germany. Here is a detailed analysis of how Germany was affected by this devastating economic downturn:

1. Economic Collapse:
The Depression hit Germany hard due to its heavy reliance on exports. As international trade declined, German industries suffered from reduced demand for their products, leading to a sharp decline in production and widespread unemployment. The German economy, already weakened by the war reparations imposed after World War I, collapsed even further during this period.

2. Soaring Unemployment:
Unemployment rates skyrocketed in Germany during the Depression. By 1932, approximately one-third of the German workforce was unemployed. The high levels of joblessness caused immense social and economic unrest, leading to increased poverty, homelessness, and social inequality.

3. Political Instability:
The economic crisis exacerbated political tensions in Germany. The Weimar Republic, already struggling to maintain stability, faced increased pressure from extremist ideologies such as communism and fascism. The Depression created an environment ripe for political radicalization, ultimately contributing to the rise of the Nazi Party and Adolf Hitler.

4. Banking Crisis:
The Depression triggered a banking crisis in Germany. Many banks faced bankruptcy as a result of stock market crashes and the collapse of foreign investments. This led to a loss of public confidence in the financial system and a lack of credit availability for businesses and individuals, further exacerbating the economic downturn.

5. Social Consequences:
The Great Depression had severe social consequences in Germany. Many families were unable to provide for their basic needs, leading to malnutrition and poor health conditions. Homelessness and poverty became widespread, as people lost their homes and struggled to make ends meet. The psychological impact of the Depression also contributed to a general sense of despair and hopelessness among the German population.

6. Rise of Nazi Party:
The economic turmoil and social unrest created by the Great Depression played a significant role in the rise of the Nazi Party. Adolf Hitler capitalized on people's frustrations, promising economic recovery and restoring national pride. The Nazi Party gained support by blaming minority groups and promoting nationalism, ultimately leading to Hitler's appointment as Chancellor in 1933 and the subsequent consolidation of power.

In conclusion, the Great Economic Depression had a devastating impact on Germany. The collapse of the economy, soaring unemployment rates, political instability, banking crisis, social consequences, and the rise of the Nazi Party were all consequences of this severe economic downturn. The Depression not only worsened existing economic hardships in Germany but also laid the groundwork for the subsequent political and social upheavals that would shape the country's future.

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