How did withdrawal of US loans affect different countries of the world?
CBSE Class 10
CBSE Class 10 Social
2018-03-06 14:05:18 UTC
It led to the failure of some major banks and the collapse of currencies such as British pound sterling.
Here it intensified the slump in agriculture and raw material prices.
US attempted to protect its economy in the depression by doubling import duties, also dealt with another severe blow to world trade.