World War II
Economic recovery was different in many parts of the world, but in general, it was quite positive. The United States became richer than any other country; by 1950, it had taken over the world's economy. It also decided on the Marshall Plan (1948–1951) to help European countries. The German, Italian, and French economies recovered. However, the British economy was badly harmed and continued to worsen for more than ten years. The Soviet economy grew very fast after the war was over. That also happened with the Japanese economy, which became one of the largest economies in the 1980s. China returned to the same production level as before the war by 1952.