Choose if the given statement is true/false:

After World War II, significant swaths of the globe remained under European colonial control.

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Detailed Solution

The above statement is true.
After World War II, significant swaths of the globe remained under European colonial control. Most Asian and African colonies became sovereign, independent nations over the next two decades. However, their economies and civilizations were burdened by poverty and a lack of resources due to extended periods of colonial control. The IMF and the World Bank were established to meet the financial needs of the developed world. They were unprepared to face the problems of poverty and underdevelopment in the former colonies. Even after several years of decolonization, former colonial powers retained control over essential resources such as minerals and land in many former colonies.

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