Global History

The economic development of western Europe during the Cold War years was similar to that of Japan in that they were both able to develop and grow their economies despite the adverse economic and political environments of the Cold War. This was mainly because both regions had access to US economic and technological support, which helped them overcome the negative effects of the era. Meanwhile, eastern Europe, which was under Soviet control, was unable to develop its economy due to a lack of western economic and technological aid. In addition, the policies of the Soviet Union hindered their economic development by promoting an inefficient and underdeveloped socialist economy. Overall, western Europe and Japan were both able to benefit from access to US financial aid and technological support, which allowed them to pursue economic growth despite the Cold War conditions.