It was the worst economic downturn in the history of the industrialized world. lasting from 1929 to 1939. It began after the stock market crash of October 1929, which sent Wall Street into panic and wiped out millions of investors.
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Causes of the Boxer Rebellion: During the Qing Dynasty, the United States and Europe exerted formidable economic, political and religious influence in China. China had also been intimidated into granting trading rights to the United States and Europe after several military defeats at the hands of the Western powers. It had also been forced to allow entry of foreign Christian missionaries. The Chinese were resentful of the Western influences and the control that the Western powers had over them economically. By the late 1890's a secret group which the Westerners called the Boxers emerged. They blamed their poverty and poor living conditions on the Western nations that were given territorial and commercial rights by the Qing Dynasty. The Boxers began to attack Christian missionaries and Chinese Christians, destroyed churches and other foreign properties. The Qing Empress declared war on all foreign countries with diplomatic ties to China. Diplomats, their families and guards had a hard time repelling the Boxers. Several hundred foreigners and several thousand Chinese Christians were killed during this time.
The Effect: Around 20,000 troops were sent by the Western Nations and Japan to rescue the Christian missionaries, foreigners and Chinese Christians. The Boxer rebellion finally ended one year and almost three months after it began. The Boxer Protocol was signed on September 7, 1901. Under the terms, China had to destroy their forts that protected Beijing and the Boxer and Chinese officials who took part in the rebellion were punished. The Western nations were allowed to maintain troops in Beijing to protect their citizens and China was not allowed to purchase weapons for two years. China agreed to pay $330 million in war reparations (although these were later returned by the foreign countries involved with specific instructions for their use).
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