1945

International trade and payments of Western Europe, Japan and the United States

The serious imbalance in international transactions which had emerged in 1951, owing to the economic repercussions of the Korean conflict, was appreciably lessened in 1952—at a lower level of foreign trade. By the second half of 1952, the deficit of the rest of the world with the United States on account of current transactions in goods and services (excluding military aid) was significantly reduced from the high levels reached in preceding periods.

Related Subject(s): Economic and Social Development
Countries: Japan; United States
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