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 war, world and/or war:
“The descendants of Holy Roman Empire monarchies became feeble-minded in the twentieth century, and after World War I had been done in by the democracies; some were kept on to entertain the tourists, like the one they have in England.”
—Ishmael Reed (b. 1938)
“Individuality is founded in feeling; and the recesses of feeling, the darker, blinder strata of character, are the only places in the world in which we catch real fact in the making, and directly perceive how events happen, and how work is actually done.”
—William James (1842–1910)
“In peace the sons bury their fathers, but in war the fathers bury their sons.”
—Croesus (d. c. 560 B.C.)