Answer:
please give me brainlest star
Explanation:
The aftermath of World War I confirmed the importance of isolationism to many Americans. The “war to end all wars” ultimately failed to live up to its name, and Americans were wary of once again of getting involved in foreign conflicts. Before the start of World War II, the idea of the United States as a leading global power was not an ambition of American politicians. Most Americans remained content to let other powers, such as Great Britain, fill that role. By the end of World War II, however, the United States stood as one of two leading global powers, alongside the Soviet Union, which had experienced a similarly unexpected rise to power. Far from the isolationism that characterized US global politics, the immediate aftermath of World War II established a clear desire among American political and economic leaders to protect this newfound power and to secure the United States as the leader of the “free world.”
THE RISING POWER OF THE DOLLAR
At end of nineteenth century, the British pound was more than double in value to its closest competitor, which included the French franc and the German mark. American dollars could not compete with European currencies. The strength of the British pound continued to persist, but its preference as a standard currency for global commerce was weakening over time. Economic scholars Menzie Chinn and Jeffrey Frankel argued that the waning power of the British pound, hit by two world wars and a global economic depression, allowed the American dollar to surpass the once robust British currency. By 1945, the status of the dollar and the pound had essentially flipped. Within a few decades, the United States transformed from an isolationist, inward-looking power with minimal presence on the global stage to an economic powerhouse that controlled the most valuable currency in international markets. How did such a remarkable transformation occur?
