Answer:
Since the debt crisis, the idea that public credit is the first step aimed at the loss of national sovereignty through an economic intervention has expanded. China Qing and the Ottoman Empire were caught in the vicious circle of debt
It is a very similar story that two of the most powerful empires of the pre-modern era became states that depend on international credit in the industrial age. Qing China and the Ottoman Empire suffered a long period of decline that ended their imperial status by 1840.
Explanation:
The two countries suffered some kind of crisis towards the second half of the century that pushed them towards indebtedness abroad, which would lead to the contracting of debt in international markets in order to cope with their long decline, and with the hope of modernize their industry. Following that debt would lead them to accept, foreign intervention.
During the war, the Turks, without an army with the power to confront the Egyptians, had to request the help of their former enemies, forcing the intervention of Britain and Russia. International aid was not free, and its price was through the Balta Treaty, where Turkey agrees to adopt a free market system, withholding taxes on imports.
The case of the Qing dynasty in China was very similar. By 1820, the empire showed symptoms of clear economic damage. Stuck in an extremely restrictive trading system, through which all international trade demanded through the Cohong guild, China collided with Western interests during the First Opium War. The defeat marked the beginning of a long process of decline.
is an economic theory that explains how supply and demand are related to each other and how that relationship affects the price of goods and services. It's a fundamental economic principle that when supply exceeds demand for a good or service, prices fall. When demand exceeds supply, prices tend to rise.
Weather or not the emperor could become pope
The commanding general and his troops were overly confident of victory and took foolhardy chances in battle.
Answer:
B. Countries receiving economic assistance from the US.
Explanation:
The Marshall Plan was a US government plan with the objective of providing aid to the countries affected by the Second World War. This plan was also known as the European Recovery Program, enacted in 1948.
The given poster is from one of the entries from the Intra-European Cooperation for a Better Standard of Living Poster Contest held all over Europe in 1950. This poster contains the flags of countries that receive aid under the plan namely, <u>Portugal, Norway, Belgium, Iceland, West Germany, the Free Territory of Trieste, Italy, Denmark, Austria, the Netherlands, Ireland, Sweden, Turkey, Greece, France, and the United Kingdom</u>.
Thus, the correct answer is option B.
