USA HISTORY

Detailed explanation-1: -The timing and severity of the Great Depression varied substantially across countries. The Depression was particularly long and severe in the United States and Europe; it was milder in Japan and much of Latin America.

Detailed explanation-2: -Although there were national variations, no part of Europe was left untouched by the Great Depression. In the worst affected countries – Poland, Germany and Austria – one in five of the population was unemployed, and industrial output fell by over 40 per cent. Levels of trade between countries also collapsed.

Detailed explanation-3: -First, European markets were closely connected to American markets. As European countries tried to recover from the war, they depended on American financing. That’s how in 1929, when the American economy started its crash, it brought Europe down with it.

Detailed explanation-4: -The Great Depression that began at the end of the 1920s was a worldwide phenomenon. By 1928, Germany, Brazil, and the economies of Southeast Asia were depressed. By early 1929, the economies of Poland, Argentina, and Canada were contracting, and the U.S. economy followed in the middle of 1929.

Detailed explanation-5: -Nearly everyone was affected by the Great Depression, but they weren’t all impacted to the same degree. Many people lost their job, but even those who didn’t experienced some negative effects from the reduced levels of investment and economic growth.