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12: The Great Depression Pt. 2 - The Depression

History of the Second World War

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The Importance of Silver in the Chinese Economy

After the start of the Depression and other nations, the price of silver in those nations dropped precipitously by as much as 50%. This caused the importation of silver to become very cheap for China. The lack of currency in rural areas and in rural banks made credit even harder to obtain making the entire rural economy very brittle.

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