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Topic: History
Number of pages / Number of words: 6 / 1620
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Australia was very reliant on trade with the United Kingdom 10. When the UK went into recession their demand for Australian goods fell. This caused Australia's situation to worsen. Australia would import large amounts of industrial capital and manufactured goods from the UK and sold them agricultural goods and raw materials...


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2 With the reduced amount of goods being imported from Australia, Australia was unable to continue importing the capital goods from the UK. This lead to a reduction in manufacturing capabilities in Australia, which in turn further worsened its situation. The use of the Gold-Standard prevented Australia from using a devaluated currency to offset the decrease in demand...


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