Economic Leadership of the United States after WWII
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Transcript of Economic Leadership of the United States after WWII
Yesterday’s Questions
Its monopoly of atomic power was symbolic of America’s dominance in world markets.
• controlled:• 42% of the global income and half its
manufacturing capacity• 57.5% of the world’s steel market• 43.5% of the world’s electricity production• 62% of the world’s oil • 80% of the world’s automobiles• 75% of the world’s gold
Circumstances of two world wars destroyed all America’s rivals. It would take another world war to eliminate China, Japan, Europe, Brazil etc as rivals.
high standard of living; food is relatively cheapinvention of fast food following World War Twoadvent of television and addiction to video gaming
gave money to Europe so that it could buy $13 billion worth of goods from the United States that would otherwise have gone unsold.
had to outlaw commies from positions of influence. Yes. US gave money to ensure success of capitalismNo. US interfering in politics of other countries
the international reserve currency; couldn’t rise or fall; other currencies pegged to it
International Monetary Fund (IMF)World Bankexpand American exportsforce countries to remove trade barriers so U.S.
could expand into new markets traditionally enjoyed by other imperialist powers
America’s fear that if Communists came to power and instituted planned economies, free market economies would be forced out. American investment would be forfeit and the potential for profit gone.
The anti-empire empire
• the dismantling of empires• Who still had empires in 1945?
• Britain• France• Belgium (Congo)• Portugal (Angola, Mozambique)• Holland• Spain
Britain• United States (1776)• Ireland (1921)• White Dominions:
Canada; Australia; New Zealand; South Africa (1932)
• India (1947)• Egypt (1954)• after Suez Crisis just
about everything else
France• Indo-China (1954)• Tunisia (1956)• Morocco (1956)• after Suez Crisis
just about everything else
• Algeria (1962)
Decolonization in Asia after World War II
Decolonization in South Africa after World War II
• As first colony to break free from an empire, it provided a blue print.
• Atlantic Charter• in 1941, as a condition for entering war, USA made Britain
promise to decolonize
no territorial aggrandizement; no territorial changes made against the wishes of the people; restoration of self-government to those deprived of it; free access to raw materials; reduction of trade restrictions; global cooperation to secure better economic and social conditions for all; freedom from fear and want; freedom of the seas; and abandonment of the use of force, as well as disarmament of aggressor nations.
• United States • Soviet Union
Both support decolonization!
1. List three reasons Asian independence movements gained strength after 1945.
2. Why did the USA and USSR support these decolonization movements?
3. Identify some problems newly-independent countries faced.
4. Identify and state the significance of SEATO5. Record at least five important points about
India’s struggle for independence.
• Colonial regiments served alongside Allies in war• The Atlantic Charter drafted by Winston Churchill
and FDR• Nationalist movements in the colonies led by
European-educated leaders
• Wanted the breakup of European Empires• US would have greater access to the former
colonies’ markets and resources – political/economic motivations
• USSR – to establish communist rule in new nations
• Arbitrary boundaries determined by colonial powers
• Inherited weak economies with limited resources• Raw materials out and manufactured goods in –
raw materials at mercy of world markets• New democracies often corrupt democracies
• SEATO –Southeast Asia Treaty Organization – 1954
• Members: US, France, Great Britain, Australia,, New Zealand, Thailand, Pakistan and Philippines
• A military alliance (similar to NATO) designed to halt communist expansion in Asia
• US could intervene in Asian affairs
• Ruled by Britain for 200 years• Promised full autonomy at end of WWIII• Conflict between 2 main political parties: the
Muslim League and the Indian National Congress (against partition)
• 1947 – Indian Independence Act – Partitioned and 2 republics formed: India and Pakistan
• Muslims in India fled to Pakistan and Hindus and Sikhs in Pakistan fled to India