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1920年美国共和党人沃伦·哈定当选美国总统。鉴于当时民众对一战时政府实行的管制政策和战后出现的经济萧条的不满情绪,在综合考量了国家利益和国内外环境后,哈定提出了“恢复常态”的主张:对内推行自由放任并配合低税收等措施,振兴国内经济;对外实行“门户开放”政策,扩大美国在亚太地区的利益。“常态”政策的实施虽然在一定程度上扩大了贫富差距,但从整体上看它使美国从战时政治经济体制顺利回复到和平经济状态,同时也刺激了美国经济的恢复和发展,使美国的综合实力和国际影响力得以继续提高。
Warren Harding, U.S. Republican, was Elected President in 1920 Given the current public dissatisfaction with the regulatory policies adopted by the government during the First World War and the post-war recession, after considering the national interest and the domestic and international environment, Harding put forward the proposition of “restoring normality”: We will promote the domestic economy by adopting laissez-faire measures such as laissez faire lending and low taxes, and implement the “open door” policy toward foreign countries so as to expand U.S. interests in the Asia Pacific region. Although the implementation of the “normal” policy has expanded the gap between the rich and the poor to a certain extent, on the whole it has enabled the United States to smoothly return from the wartime political and economic system to the peaceful state of the economy and at the same time has stimulated the economic recovery and development of the United States So that the comprehensive strength and international influence of the United States will continue to rise.