Economic effects of World War 2

Economic effects of World War 2

a)  Agriculture and industries were disrupted due to lack of equipment, raw materials and human resources.

b)  External trade almost came to a standstill because of fear and insecurity.

c)  It led to increased dependency on colonies by European powers. There was need of raw materials to reconstruct the destroyed industries.

d)  Some Industries were established in the colonies to manufacture goods because of the difficulties faced in running them during the war.

e)  It led to the rise of European economic cooperation. The post war economic destructions led to the need for cooperation. This paved way for formation of the European Economic Community in 1957.


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