World War II
Brought back as assistant secretary of state in 1941, Acheson implemented much of United States economic policy aiding Great Britain and harming the Axis Powers. Acheson implemented the Lend-Lease policy that helped re-arm Great Britain and the American/British/Dutch oil embargo that cut off 95 percent of Japanese oil supplies and escalated the crisis with Japan in 1941.
In 1944, Acheson attended the Bretton Woods Conference as the head delegate from the State department. At this conference the post-war international economic structure was designed. The conference was the birthplace of the International Monetary Fund, the World Bank, and the General Agreement on Tariffs and Trade, the last of which would evolve into the World Trade Organization.
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Famous quotes containing the words world and/or war:
“The dupe of friendship, and the fool of love; have I not reason to hate and to despise myself? Indeed I do; and chiefly for not having hated and despised the world enough.”
—William Hazlitt (1778–1830)
“Surely there is not a capitalist or well-informed person in this world today who believes that [World War I] is being fought to make the world safe for democracy. It is being fought to make the world safe for capital.”
—Rose Porter Stokes (1879–1933)