economic boom world war II

After the second world war, even though we won, there was still a slow start to our economy. The countries that lost the war, Germany and Japan both had a lot of casualties. In 1968, Japan became the worlds 2nd largest economy. Japan experienced a growth of 9 percent in the economy between 1955 and 1973. Germany became the second largest economy by the 50s. As the economy grew, renowned brands like Sony, Volkswagen, Toyota, Mercedes, and Toshiba sold well all over the world. This cause Japan and Germany to have more efficient employees than the United States. More people started buying Japanese and German goods. Many large U.S. corporations lost money or saw a decrease in profits.