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The worldwide collapse in trade during the 1930s was primarily caused by the Great Depression, which began with the Stock Market crash in 1929. Economic instability led to a severe contraction in consumer demand, prompting countries to adopt protectionist measures such as tariffs and quotas to shield their domestic industries. This resulted in a significant decline in international trade, as nations turned inward and reduced imports and exports, exacerbating the global economic crisis. Additionally, currency devaluations and competitive devaluations further hindered trade relations.

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2w ago

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