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Step-by-step explanation:
The Chinese economy first felt the effects of the Great Depression in 1929, shortly after the stock market crash in the United States. The Great Depression caused a sharp decline in global trade and a collapse in commodity prices, which had a significant impact on the Chinese economy.
China's GDP fell sharply during the Great Depression, with estimates suggesting a decline of around 25% between 1929 and 1932. Unemployment rates also rose significantly, with some estimates suggesting that up to a third of the urban population may have been unemployed by the mid-1930s.
The Great Depression also had a significant impact on China's national debt, which increased as the government attempted to stimulate the economy through public spending. This debt burden would continue to plague the Chinese economy for many years to come.
In terms of international trade, the Great Depression had a major impact on China's exports. Demand for Chinese goods fell sharply as the global economy contracted, leading to a decline in China's trade and a shift towards import-substitution policies.
Overall, the Great Depression had a profound impact on the Chinese economy, contributing to political instability and social unrest in the years that followed.