Trade And Commerce WW2

Question 1

Start of the war

Answer 1

Entered in a worse condition than in 1914

Defeats in West and Far East in first 3 years is expensive

Question 2

Problems: loss of SE Asia colonies

Answer 2

From 1942 to japan cut off supplies eg rubber from Malaya- no hot water bottles case study

Question 3

Problems: German U boats

Answer 3

11.7m tons of shipping lost

Question 4

Problems: producing weapons for war

Answer 4

Less exports so heavy deficit

Question 5

Problems: overseas assets

Answer 5

1/3 sold to fund war

Question 6

Problems: reserves

Answer 6

Colonial reserves in Britain used to help pay for war

Question 7

Problems: August 1945

Answer 7

USA ended lend lease= John Maynard Keynes negotiation

Question 8

What is lend lease?

Answer 8

USA supplied Britain with weapons and food during WW2

Question 9

What did John Maynard Keynes negotiate?

Answer 9

American loan of 900m in 1945 under the condition that the point sterling had to be made Greek convertible to dollars by 1947

Question 10

How long before Britain ran out of dollar reserves after loan

Answer 10

6 weeks

Question 11

Colonial investment during war

Answer 11

Africa to increase supply of food and raw mat

Malaya rubber and rib industry in hope to earn dollars

Question 12

The colonial development and welfare act of 1940

Answer 12

Wrote off some colonial debt
Grants and loads of £5m per year
Intended to strengthen empire as a trading partner

Question 13

1945 development to the colonial development and welfare act

Answer 13

Increased aid to £120m 10 years

Each colony produce a 10 year devel plan