How did Germany and the United States become industrial leaders?
Great Britain was the first country ever to reach industrialization, it is due to the invention of the steam machine. It kept that supremacy until the cycle of crisis that started in 1873 and lasted until 1896 and which is called the Great Depression( though the Great Depression of the Thirties was much worse). During that period deflation struck the economy and Great Britain was no longer the only industrial power with Germany and United States reaching a high development of their steel industry(which had been preponderant thanks to the building of railways). Germany had a state-based conception of development, unlike the USA whose vision was far more of an economically liberal one. The development of the USA was fuelled by the massive investments from Great Britain and also the triumph of the Industrial North over the old South (after the Civil War) whose economy was much closer to a feudal one with the practice of slavery still being the base of the economy.
Ask a question
Get an answer in 5 minutes from expert tutors at Oxford, Cambridge, Imperial and more.