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American money and manufactured goods flooded into Europe, South Korea, and Japan and helped in their reconstruction. US manufacturing dominance would be almost unchallenged for a quarter-century after 1945. The American economy grew dramatically in the post-war period, expanding at a rate of 3.5% per year between 1945 and 1970.
The aftermath of World War II saw the rise of two global superpowers, the United States (U.S.) and the Soviet Union (USSR). The aftermath of World War II was also defined by the rising threat of nuclear warfare, the creation and implementation of the United Nations as an intergovernmental organization, and the decolonization of Asia, Oceania, South America and Africa by European and East Asian ...
Following the end of World War II and the large adjustment as the economy adjusted from wartime to peacetime in 1945, the collection of many economic indicators, such as unemployment and gross domestic product (GDP) became standardized. Expansions after World War II may be compared to each other much more easily than previous expansions because ...
Belgium experienced a brief but very rapid economic recovery in the aftermath of World War II. The comparatively light damage sustained by Belgium's heavy industry during the German occupation and the Europe-wide need for the country's traditional exports (steel and coal, textiles, and railway infrastructure) meant that Belgium became the first ...
The United States of America was formed after thirteen British colonies in North America declared independence from the British Empire on July 4, 1776. In the Lee Resolution , passed by the Second Continental Congress two days prior, the colonies resolved that they were free and independent states.
American industry and labor prospered after World War II, but hard times set in after 1970. For the first time there was stiff competition from low-cost producers around the globe. Many rust belt industries faded or collapsed, especially the manufacture of steel, TV sets, shoes, toys, textiles and clothing.
Industries greatly expanded to produce war materials. The United States officially entered World War II against Germany, Japan, and Italy in December 1941, following the Japanese surprise attack on Pearl Harbor. This time the U.S. was a full-fledged member of the Allies of World War II, not just an "associate" as in the first war. During the ...
Following the attack on Pearl Harbor, the United States entered World War II to fight against Nazi Germany, Fascist Italy, and Imperial Japan, known as the "Axis Powers". Italy surrendered in 1943, and Germany and Japan in 1945, after massive devastation and loss of life, while the US emerged far richer and with few casualties.