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I hear the bit about America having the world to themselves trade-wise a lot from Americans, but it's not really true. Both Western Europe and capitalist Asia
by timoth3y 6y ago
I hear the bit about America having the world to themselves trade-wise a lot from Americans, but it's not really true.
Both Western Europe and capitalist Asia (Japan, Singapore, South Korea) also had near full employment with quality jobs during this period.
It was not a US-only phenomenon. It was global. The US was exporting more, but it was also importing more. As were many other countries.
- ameister14 6y ago>Both Western Europe and capitalist Asia (Japan, Singapore, South Korea) also had near full employment with quality jobs during this period. That seems off to me right away, because the major investment in South Korea didn't come until later. Certainly not in the 50's. In the mid 60's South Korea was still going through shifts towards industrialization.
- andi999 6y agoAlso Singapore was not well in the 50s and 60s. It got full independence in 1965, and (from the speech of Lee Kuan Yew), erratic electricity, only half of the population access to sewage system. The economy picked up only afterwards.