5.4 AFTERMATH
United States- was involved in WW II as a major military power and more or less in every military campaign since the WW II, almost always coming out as the winner. The United States, once in a great power, now is in a great trouble.
Today, major economic concerns in the US include national debt, external debt, entitlement liabilities for retiring baby boomers who have already begun withdrawing from their Social Security accounts, corporate debt, mortgage debt, a low savings rate, falling house prices, a falling currency, and a large current account deficit.
Russia- Soviet Union, an Allies member, was also involved in many military conflicts including War World II and the Korean War. Russia faced serious financial problems and stagnation; with the Cold War coming to a close in the late 1980s and the early 1990s.
Japan- Attacked the United States naval base in Pearl Harbor and declared war on the United States, the United Kingdom and the Netherlands. This act brought the United States into World War II. After the US atomic bombings of Hiroshima and Nagasaki in 1945, along with the Soviet Union joining the war against it, Japan agreed to an unconditional surrender on August 15, 1945. The war cost Japan millions of lives and left much of the country's industry and infrastructure destroyed.
Germany- Was a major European power from the 1930s to the mid-1940s. Its historical significance lies mainly in its responsibility for escalating political tensions in Europe by its expansionist foreign policy which resulted in World War II. The state came to an end in 1945, after the Allied Powers succeeded in seizing German occupied territories in Europe and in occupying Germany itself. Germany like some other European countries was seriously destroyed during the WW II.
Today, Germany is the largest national economy in Europe, the third largest bynominal GDP in the world.
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