“That was a very different world. American hard goods mfg industry was at its peak of productivity. We also financed rebuilding of Europe, for the benefit of both the Europeans and ourselves.”
Japan is where I have a problem they got new steel mills while ours were 40 years old at the time.
They should still be using a wood plow to this day for what they did!
Mebbe so, but an economically strong Japan with a democratically elected parliamentary government as our ally, vis-a-vis a resurgent and increasingly assertive China, is better for us and all the world than any of a variety of alternatives that could have been imposed by a vindictive victor.
BTW, we also financed restoration of Germany’s steel industry, which with its new facilities became a serious competitor with U. S. iron and steel producers.