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Multidisciplinary Project

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4 views4 pages

Multidisciplinary Project

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tarunkumarg1208
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Multidisciplinary Project

EARLY POST WAR YEARS (W.W.2)

Between 1950 and 1970, growth was consistent, with some exceptions. There was kind of
unprecedented growth in trade and income for western international nations and Japan.
The rate of world trade grew over 8 percent between 1950 and 1970 and incomes at nearly
5 percent. For example, the Unemployment rate in most industrial countries was low (<5%).
The developing world was eager to catch up with the advanced industrial countries so they
spent a lot of capital importing industrial plants and equipment with cutting-edge
technology. When World War II ended, large swaths of the globe remained under European
colonial power. Most Asian and African colonies became independent nations over the
years. But they were burdened by poverty and a scarcity of resources, and their economies
and societies were hampered by extended periods of colonial domination.

Around the same time, most developing countries did not benefit from the fast growth the
western economies experienced in the 1950s and 1960s. Therefore, they have organized
themselves into Group of 77 (or G-77)- to demand a new international economic order. By
this system, they meant to experience real control over their natural resources, more
development assistance, fairer prices of raw materials, and better access to manufactured
goods in the market of developed countries.

Roadways, Railways, Waterways and Airways in building the national economy

Roadways, railways, waterways, and airways play crucial roles in building the national
economy of a country. These transportation networks are vital for the economic
development of a country as they facilitate the movement of people, goods, and resources,
connecting different regions and enabling trade and commerce.
Improved roadways have been highlighted for facilitating the movement of goods and
people, connecting urban and rural areas, and enhancing accessibility, which in turn boosts
economic activities and development. Similarly, transportation networks, including
roadways, railways, waterways, airways, and pipelines, are essential for regional
development and economic growth by connecting people and resources across different
areas
Railways, roadways, airways, and waterways are indispensable for transporting goods and
people efficiently within a country, linking different regions and supporting economic
activities. For example, railways are commonly used to transport goods and people from
one part of the country to another, contributing significantly to economic growth and
development

Challenges faced by the world in the Early Post war years

In the early post-war years, the world faced numerous challenges that shaped the
geopolitical landscape. One significant issue was the displacement of people, leading to
overcrowded and heavily guarded displaced-persons camps, some of which were located in
former Nazi concentration camps. Additionally, the Truman Administration was confronted
with the challenge of halting the spread of communism in regions like Eastern Europe,
China, and Korea.

Economically, the transition from wartime to peacetime posed difficulties. The labor
demands of war industries caused mass movements of people, with millions relocating
mainly to coasts where defense plants were concentrated 3.

Moreover, the aftermath of the Second World War saw many colonies in Asia and Africa
gaining independence but grappling with the burdens of poverty and underdevelopment 4.
These challenges had far-reaching implications for global politics, economics, and social
structures in the early post-war years

EFFORTS MADE TOWARDS DECOLONISATION AND INDEPENDENCE


Efforts made towards decolonization and the independence of nations were significant
movements in the 20th century. Decolonization, which refers to the process by which
colonies became independent of the colonizing country, was a gradual and significant
phenomenon. This process involved the undoing of colonialism, which is the establishment
and maintenance of domination over overseas territories by a nation. The United Nations
played a crucial role in decolonization efforts, based on the principle of "equal rights and
self-determination of peoples," as enshrined in its Charter-12. The UN established trusts
over former German and Italian colonies to facilitate their path to independence. These
movements and efforts marked a significant shift in global power dynamics and the
promotion of sovereignty and self-governance among nations striving for independence.
End of Bretton Woods and Beginning of “Globalization”
The years of stable and rapid growth were not all well in the post-war world.
From the 1960s, rising costs of overseas involvements weakened the finances of
the US and its competitive strength. The US dollar no longer commanded
confidence as the world’s principal currency, as it couldn’t maintain its value in
relation to gold. This led to the gradual collapse of the system of fixed exchange
rates and the introduction of a system of floating exchange rates.

This led to increasing in periodic debt crises an increased poverty and low
incomes, especially in Africa and Latin America.

The industrial world also was hit by unemployment which began to rise in the
mid-1970s and remained high till the 1990s. In the late 1970s, MNCs also began
to shift production operations to low-wage Asian Countries.

China was cut off from the post-war world economy since the revolution in
1949. But new economic policies in China and the collapse of the Soviet Union
and Soviet-style communism in Eastern Europe brought many countries back
into the world economy fold. As the wages were comparatively low in countries
like China, they became attractive locations for investment by foreign MNCs
competing to capture world markets.

Decolonisation and Independence


Between 1945 and 1960, numerous new states in Asia and Africa achieved
autonomy or full independence from European colonial powers like Britain,
France, and others. This period marked a significant shift in global politics as
former colonies established themselves as sovereign nations. The United
Nations played a crucial role in decolonization by adopting the Declaration on
the Granting of Independence to Colonial Countries and Peoples in 1960, which
supported the freedom and self-determination of colonized territories.
The decolonization process reshaped the world by altering the geopolitical
landscape and changing the maps as new nations emerged. Independence
movements in colonies led to the collapse of colonial empires and the creation
of new countries. The effects of decolonization are seen in the ongoing legacies
of these independence movements, influencing modern international relations
and global dynamics.

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