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How was the Great Depression a global depression?
Since the U.S. was the strongest in the world economically, the United States orginally gave loans to the majority of countries, such as Germany and Austria who had to pay reparations to the Allies as noted in the Paris Peace Treaty. Germany and Austria then had to pay Great Britain and France, who also took out loans from the U.S. Once the economy in the U.S. plummeted, so did Great Britain and pretty much the rest of Europe, but Germany wasn't hit as hard. Great Britain and most of Europe ended up in depression as well due to their financial dependence on U.S. loans.