THE PARTITION OF AFRICA AND ASIA: 1884-1889 by Ruben Ygua English | 2020 | ISBN: N/A | ASIN: B084LBWZSX | 88 pages | EPUB | 0.30 Mb A NEW WORLD ECONOMIC CRISIS
Europe exhausted its gold reserves and American banks stopped giving credit. The New York Clearing House managed to avoid a major disaster by rescuing the main American banks at risk of bankruptcy. This panic led to the third biggest recession in US history, 38 months of negative growth with all its consequences of unemployment, hunger and misery.
