Australia in the Korean War Australians claiming at least 10 MiGs shot down, but Chinese and North Korean sources stated it was only one. On 29 November 1952, US President-elect Dwight D. Eisenhower fulfilled a campaign promise by going to Korea to find out what could be done to end the conflict. With the UN's acceptance of India's proposal for a Korean armistice, a cease-fire was established on 27 July 1953, by which time the front line was back around the proximity of the 38th parallel, and so a demilitarised zone (DMZ) was established around it, presently defended by North Korean troops on one side
Impact of the Korean War on the economy of the United States Impact of the Korean War on the economy of the United States The impact of the Korean War on the Economy of the United States refers to the ways in which the American economy was affected by the Korean experience from 1950 to 1953. While the cost of the Korean War was less significant than that of World War II, it still changed the structure of the American growth as a result of its financing. The Korean War boosted GDP growth through government spending, which in turn constrained investment and consumption. While taxes were raised significantly to finance the war,