27 déc. 1931 - Great Depression

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In the second half of the 1920s the Australian economy suffered from falling wheat and wool prices, and competition from other commodity-producing countries. Australia was also borrowing vast sums of money, which dried up as the economy slowed.
Then the Wall Street crash of 1929 led to a worldwide economic depression. The Australian economy collapsed and unemployment reached a peak of 32 per cent in 1932.
It took Australia almost a decade to recover from the Great Depression.

Economic example

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