Rebuilding A World Economy


 
 
Concept Explanation
 

Rebuilding A World Economy

REBUILDING A WORLD  ECONOMY:

 

THE POST-WAR ERA: The Second World War resulted in immense devastation in human and economic broke out after two decades of the First World war (1939-45). It was fought between the Axis Powers (Nazi Germany, Japan and Italy) and the Allies (Britain,France, Soviet Union and USA). At least million (about 3 per cent of the world's 1939 population) people were killed and millions more were injured. 

Post-War Reconstruction: Vast parts of Europe and Asia were devastated several cities were destroyed by arial bombardment . The atomic bombing of Hiroshima and Nagasaki alone is estimated to have killed between 1,50,000 and 2,50,000 men , women and children . Two crucial influences shaped post-war reconstruction:-

(i) The US emerged as the world's dominant political and economic power after the war.

(i) Soviet Union became super power. It defeated Nazi Germany, It transformed itself from agricultural country into a world power during the period when the capitalist world was in the Great Depression. As communist bloc, Soviet Union posed a great threat to the capitalist economy.

 
 


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