PETE 1010 Chapter : The Economics Of Overthrow
Document Summary
Their main issue stems from the impact of war and the change in international money exchange. Great britain was having trouble adjusting to the idea that the dollar had overtaken sterling as the larger reserve currency. Another reason for such a poor economy was that they spent way too much on trying to maintain their empire and that they were slow to realign from war production. This means that great britain was left with huge loan debts that they couldn"t pay off. It also didn"t help that the signing of the anglo-american loan. Agreement allowed the convertibility of international sterling reserves: describe the concession of 1933, the concession of 1933 was a contract between the iranian government and the aioc, which was overlooked by the league of nations. The terms did not allow for persian government to cancel or expropriate the concession without compensation. This led to drastic profit loss in persia; a difference of over 200 million pounds.
