What was the economic situation of Europe after WWII and how was it resolved?
In Europe, West Germany recovered quickly and doubled production from its pre-war levels by the 1950s. Italy came out of the war in poor economic condition, but by 1950s, the Italian economy was marked by stability and high growth.The United Kingdom was in a state of economic ruin after the war, and continued to experience relative economic decline for decades to follow. France rebounded quite quickly, and enjoyed rapid economic growth and modernization. The Soviet Union also experienced a rapid increase in production in the immediate post-war era.In Asia, Japan experienced incredibly rapid economic growth, and led to Japan becoming one of the most powerful economies in the world by the 1980s.China, following the conclusion of its civil war, was essentially a bankrupt nation. By 1953, economic restoration seemed fairly successful as production had resumed pre-war levels.This growth rate mostly persisted. At the end of the war, the United States produced roughly half of the worlds indus
