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During World War II, 1941–1945, India became the main base for the American China Burma India Theater (CBI) in the war against Japan. Tens of thousands of American servicemen arrived, bringing all sorts of advanced technology, and currency; they left in 1945.
The period from the end of World War II to the early 1970s was one of the greatest eras of economic expansion in world history. In the US, Gross Domestic Product increased from $228 billion in 1945 to just under $1.7 trillion in 1975. By 1975, the US economy represented some 35% of the entire world industrial output, and the US economy was over ...
Mount Washington Hotel. The Bretton Woods Conference, formally known as the United Nations Monetary and Financial Conference, was the gathering of 730 delegates from all 44 allied nations at the Mount Washington Hotel, in Bretton Woods, New Hampshire, United States, to regulate what would be the international monetary and financial order after the conclusion of World War II.
Although the economy was expanding from 1975 to the first recession of the early 1980s, which began in January 1980, inflation remained extremely high until the early 1980s. The U.S. Bureau of Labor Statistics estimates that 2.3 million jobs were lost during the recession; at the time, this was a post-war record. [4]
The American economy boomed for about 30 years after World War II with the benefit of Keynesianism, robust antitrust regulation to promote competition and financial regulations preventing the most volatile forms of market speculation, high unionization rates and protections promoting the growth of domestic industry.
The recession of 1958, also known as the Eisenhower Recession, was a sharp worldwide economic downturn in 1958. [1] The effect of the recession spread beyond the United States to Europe and Canada, causing many businesses to shut down. [2]
Churchill's Secret War: The British Empire and the Ravaging of India during World War II (2010). Raghavan, Srinath. India's War: World War II and the Making of Modern South Asia (2016). wide-ranging scholarly survey excerpt; Read, Anthony, and David Fisher. The Proudest Day: India's Long Road to Independence (1999) detailed scholarly history of ...
Pax Americana [1] [2] [3] (Latin for ' American Peace ', modeled after Pax Romana and Pax Britannica), also called the "Long Peace", is a term applied to the concept of relative peace in the Western Hemisphere and later in the world after the end of World War II in 1945, when the United States [4] became the world's dominant economic, cultural, and military power.