The Marshall Plan was very successful as it contributed greatly to the rapid renewal of the western European chemical, engineering, and steel industries.
<h3>What was the Marshall Plan?</h3>
It should be noted that the Marshall Plan was very successful as the western European countries involved experienced a rise in their gross national products of 15 to 25 percent during this period.
It should be noted that the plan contributed greatly to the rapid renewal of the western European chemical, engineering, and steel industries. In their case, this aid provided much needed capital and materials that enabled Europeans to rebuild the continent's economy.
Also, for the United States, the Marshall Plan provided markets for American goods, created reliable trading partners, and supported the development of stable democratic governments in Western Europe.
Therefore, by the time the Marshall Plan ended in 1951, industrial production in Western Europe had risen 40 percent above the prewar level. Also, trade and exports also increased far above what they were before the war. People had returned to work and their standard of living was rising.
Learn more about Marshall Plan on:
brainly.com/question/1373135
#SPJ1
