What was the major impact of the Marshall Plan on European economies post-WWII? 🔊
The Marshall Plan, initiated in 1948, significantly impacted European economies post-WWII by providing them with approximately $13 billion in aid to rebuild their war-torn nations. This investment stabilized economies, aided in infrastructure rebuilding, and prevented the spread of communism by promoting economic cooperation and integration among Western European countries. The plan also facilitated the revival of various industries, improved standards of living, and fostered an environment conducive to political stability. By the early 1950s, many participating nations experienced substantial economic growth and regained their standing as key players in the global economy, fundamentally transforming the economic landscape of Europe.
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