Furthermore not only in aspect of Economy, it miserably affected lives of Americans. By July 1933 up to 15 million Americans were unemployed (July 1926-Unemployment drops to 1 million), while the average family income fell from $2300 to just $1600 a year. The fact that the employment rate rose up to 15 times make us indicate that how harsh the impact of this event was. In addition, the farmer and black agricultural workers did not benefit from the 1920s boom years and this disastrous crisis made their situation even worse because export had dried up due to American’s protective-duties and diminished demand from interior of American and European continent (international trade collapse).
In contrast of this American people (middle and lower class), the richest 5% of Americans were hardly affected at all. For example billionaires like John F Kennedy’s father, who was expert in finance managed to sell his share before the American understood that the economy was in trouble. This shows a side of America’s capitalism and American will stand up.
Secondly, unlike several countries in Europe, Japan was not lending any finance from US. So “gloomy Tuesday” did not hardly affect Japan comparing to US or Europe (Only 8% economic drop). However it resulted America to stop importing Japanese silk (Silk was a lucrative and huge industry in Japan) and reducing capacity or even closing down the heavy industries such as mining or steel.
Inevitably this crisis also impacts to the political aspect. In Japan, the weaken government due to prime minister assassination attempt and with the result of depression urged the strengthened influential army officers to invade Manchuria in China to get over with this slump. Because it was time of nationalism and protectionism and made it very hard to purchase it and also consequence of decline of silk export, in Manchuria, it had remarkable amount of iron and coal resources. Furthermore the fact it was a harsh time for the league of the nation, it contracted the programmes and monitor. So Japan, Germany, and Italy started asserted that they have right to build their own empire. Therefore the conflict between China and Japan begins on 18 September 1931.
Thirdly, as I have mentioned above, Germany was lending $4 billion from US but after abrupt termination, they faced inevitable crisis. Not that it only means that they have to pay back but also stop in rebuilding the nation. This had direct impact to the citizens for Germans. Nevertheless the German citizens were suffering deadly condition after the war in terms of employment (6 million), income (hard to have a meal for a wage), and especially the treaty of Versailles. Therefore both citizens of German and Weimar republic had simply a word “disastrous” consequence.
So, due to the fact that Weimar government got even more unpopular, it ultimately brought Hitler to power, who advocates allocation of the wealth among all the German. He also promised ‘work & bread and revision of Versailles. Therefore, because of the depression, it led Hitler to the power and he was the one who conducted Germans into a new era.
Lastly, in France, like any other country the unemployment rate rose, industries went through a great crisis, exports of goods dropped sharply, and tourism, one of the country's largest sources of income, also declined. The depression had drastic effects on the local economy, which can partly explain the . Moreover, the conclict between the left and righ wing has accerlated.
In conclusion, according to my reasearch, there wasn’t a single country (related to WW1) got away with great depression. Therefore it was a global crisis. However, I believe that the country that has most suffered is Germany. As a result of treaty of Versaillies, they had to companstate millions of money to the league of nation, and the fact that they have lost the war resulted catastrophic situation in their homeland. Moreover, the industires and welfare for the German people were not stablised comparing to any other countey. I can argue that althought income of US people drop but I don’t think the German’s were evne getting to there and unlike US the German did not enjoy the economic boom and experienceed loosing a war. The fact they have thrown out the Weimar govervent and giving new power to the extremist Hilter indicates me that the German people and the government are who mostly suffered among the four countriies that Ihave mentioned.