Trade And Commerce Inter-war Period Flashcards
1
Q
What were the two phases that Britain went through during the inter-war period?
A
Phase 1: in 1920s (post WW1), Britain tried to return to free trade
Phase 2: after Great Depression (1929), importance of Empire in trade and commerce was highlighted
2
Q
How did Britain try to return to free trade following WW1 and why?
A
Returned to gold standard in 1925, to stabilise international trade
- returning to free trade would have brought in more imports and made more from exports, allowing Britain to recover from the war
- getting back on the gold standard was a sign of supposed economic stability which would create a strong appearance for Britain coming out of WW1
