(i) The U.S.A. started a vigorous programme of industrialization through a series of Five Year Plans. The first plan was introduced in 1929. One of the aims of the plan was to bring about changes in agriculture.

(ii) After the revolution agricultural land had been redistributed among peasants resulting in millions of small, less productive land holdings.,

(iii) To increase production, the government promoted the idea of collectivization of small farms. The peasants were both encouraged and forced to give up private ownership of farms, land was pooled and they had to become members and joint owners of the collective farms.

(iv) The Kulaks, who opposed collective - tion were severely dealt with. According to an estimate thousands perished during this period.

(v) The main effort of the plan was towards industrialization. Here the success was greater and soon Soviet Russia emerged a major industrial power in the world.

(vi) The capitalist economies at this time faced a severe economic crisis. The Soviet example of a successful socialist economy stood out and was adopted later by many colonies after independence.

(vii) Most of the European countries and U.S.A., however, did not recognize Soviet Russia till 1933. It became a member of the League of Nations only in 1934.

(viii) The hostility towards Soviet Union continued even after this. When fascist aggression began in the 1930s, Soviet Union was the only major power that actively opposed them.