Describe and analyze the experience of the great depression between the industrial nations and the primary producing nations. What parts of the world were most affected and what parts were least affected?

The Great Depression, which began with the stock market crash in the United States in 1929, was the deepest and longest-lasting economic downturn in the industrialized world at that time. Its impact varied between the industrial nations and the primary producing nations, as well as within different regions of the world.

Industrial Nations: In industrialized countries, especially the United States and Europe, the Great Depression had a devastating impact. The United States experienced massive unemployment, with rates rising to about 25%. Industrial production plummeted, businesses failed, banks collapsed, and millions of Americans lost their savings as a result of the banking crisis. Europe, still recovering from the destruction of World War I, was also hit hard. Countries like Germany, which had heavy war reparations to pay, faced severe economic distress. Britain and France experienced high unemployment, and industrial output dropped sharply. These conditions led to social unrest and the rise of political extremism in some cases.

Primary Producing Nations: Primary producing nations, or economies reliant on the export of raw materials and agricultural products, also suffered but their experiences were often different. Countries in Latin America, Africa, and Asia that depended on exports of commodities like rubber, sugar, and minerals faced a decline in demand and prices for their exports. As industrial nations struggled and purchasing power plummeted, the need for these raw materials fell, causing economic hardship in these primary producing nations. However, because these economies often had less-developed financial systems, they did not experience bank failures to the same extent as the industrial nations.

Most Affected Parts: The Great Depression's effects were uneven throughout the world. Industrial areas in the U.S., Germany, and the United Kingdom were among the most affected. Cities that relied on heavy industry and manufacturing saw the highest levels of unemployment and economic decline. Rural areas, particularly where farmers depended on cash crops for export, also suffered when crop prices collapsed.

Least Affected Parts: Some regions and countries were less affected by the Great Depression. The Soviet Union, for example, was largely insulated due to its relative economic isolation and state-controlled economy. Similarly, Japan started to recover earlier than others due to its militaristic expansion and state control over the economy. Countries that had diversified economies or were less integrated into the global economic system also tended to fare better.