10th Class Social Science The Making of a Global World Question Bank 10th CBSE Social Science The Making of a Global World

  • question_answer
      How did withdrawal of US loans affect different countries of the world?

    Answer:

                      (i) Europe: It led to the failure of some major banks and the collapse of currencies such as British pound sterling. (ii) Latin America: Here it intensified the slump in agriculture and raw material prices. (iii) US: US attempted to protect its economy in the depression by doubling import duties, also dealt with another severe blow to world trade.


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