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World Economic Report 1950–1951

image of World Economic Report 1950–1951

World Economic Report 1951-52 highlights the major domestic economic changes in economically developed private enterprise economies, centrally planned economies and selected countries of Latin America and the Far East. The Report also studies the changes in international trade and payments in several major economic powers. From 1950 to 1952, these took place in a context of continuing international disequilibrium.

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Trade of the centrally planned economies

The years 1950 and 1951 witnessed a further development of the tendency for the world to be divided into two groups of countries, the members of each group trading on a relatively large scale with one another, but only to a limited extent with members of the other group. Between 1949 and 1950, the quantum of trade among the centrally planned economies and among the countries comprising the rest of the world continued to rise, but trade between these two groups of countries —that is, “east-west trade”—declined by some 10 to 20 per cent. These trends continued in 1951, and there were signs of increasing momentum in the process of economic separation of the two areas. By 1951, east-west trade had fallen to about a half of the pre-war volume.

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