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The Handbook of Maritime Economics
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“The interwar economy never recovered from the shock of World War I that influenced the whole structure of the international economy resulting in the worst economic crisis that the industrial world had seen in 1929. During the interwar period world shipping faced severe problems stemming from a contracting world sea-trade, decreasing world immigration and increasing protectionism. The economic crisis did not affect the main national fleets in the same way. The impact was particularly felt in Britain. This is the period of the economic downhill of mighty old Albion. It was World War I that weakened Britain and allowed competitors to challenge its maritime hegemony. The withdrawal of British ships from trades not directly related to the Allied Cause opened the Pacific trades to the Japanese. Moreover, both Norway and Greece were neutrals, which meant that their fleets were able to profit from high wartime freight rates (Greece entered the war in 1917). Norwegian and Greek ships were able to trade at market rates for three years while most of the British fleet was requisitioned and forced to work for low, fixed remunerations. ”
Excerpt From: Costas Th. Grammenos. “The Handbook of Maritime Economics and Business.” iBooks.
Costas Th. Grammenos - Personal Name
2nd Edition
978 1 84311 880 0
NONE
The Handbook of Maritime Economics
Management
English
2010
1-328
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