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The Marshall Plan was implemented in West Germany (1948–1950), as a way to modernize business procedures and utilize the best practices. As a major prerequisite for delivery of aid, the Currency Reform of 1948 was implemented on June 20.
The Economic Cooperation Administration (ECA) was a U.S. government agency set up in 1948 to administer the Marshall Plan. It reported to both the State Department and the Department of Commerce. The agency's first head was Paul G. Hoffman, a former leader of car manufacturer Studebaker; he was succeeded by William Chapman Foster in 1950. [1]
China Educational Exchange of 1950 has origins in the China Aid Act of 1948 under the auspices of Title IV enclosed in the Marshall Plan. [8] The 1950 China educational exchange program is articulated by the China Area Aid Act of 1950 assimilated in Title II of the Foreign Economic Assistance Act of 1950.
Marshall Plan expenditures by country. The Marshall Plan was launched by the United States in 1947–48 to replace numerous ad hoc loan and grant programs, with a unified, long-range plan to help restore the European economy, modernize it, remove internal tariffs and barriers, and encourage European collaboration. It was funded by the ...
Paul Gray Hoffman (April 26, 1891 – October 8, 1974) was an American automobile company executive, statesman, and global development aid administrator. He was the first administrator of the Economic Cooperation Administration, where he led the implementation of the Marshall Plan from 1948 to 1950.
The Marshall Plan, known as the Economic Cooperation Act, was passed by the U.S. Congress in 1948 to help rebuild Western Europe in the wake of World War Two, partly out of fear of Communist ...
The Marshall Plan was implemented in West Germany 1948–1950 as a way to modernize business procedures and utilize the best practices. The Marshall Plan made it possible for West Germany to return quickly to its traditional pattern of industrial production with a strong export sector.
The Eastern leaders retaliated against these steps by integrating the economies of their nations in Comecon, their version of the Marshall Plan; exploding the first Soviet atomic device in 1949; signing an alliance with People's Republic of China in February 1950; and forming the Warsaw Pact, Eastern Europe's counterpart to NATO, in 1955. The ...