Why Taiwan Was the Cold War’s Most Important Battleground After World War II
Автор: World-Doc
Загружено: 2025-08-30
Просмотров: 1027
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After the war, Asia’s economies faced a quieter collapse—currency chaos. Japan’s inflation hit 700%, and shopkeepers accepted cigarettes instead of yen. Korea’s won lost 98% of its value. Taiwan replaced its currency overnight, exchanging notes by candlelight. U.S. advisers stepped in, pegging each economy to the dollar. It stabilized markets—but locked them into a system they couldn’t escape. By 1960, Japan held over 80% of its reserves in U.S. dollars. The rescue became a trap.
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#CurrencyReform #DollarStandard #PostWarAsia #EconomicHistory #HistoricalDocumentary
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