may 1, 1949 - Comecon
Description:
|1949|An organisation set up by the USSR to unite the economy's of eastern Europe, in many ways a soviet equivalent to the Marshall Plan. It controlled what each country produced and sold. It worked for the benifit of the USSR and not the benifit of the sates themselves. This resulted in the fatal flaw of communism, there was alack of industrial competition which lead to poor quality goods and a low standard of living.
Added to timeline:
Date:
may 1, 1949
Now
~ 76 years ago