The Vietnam War was one of those major armed conflicts that damaged most parties involved in it. The US fought in the Vietnam War as the ally of Japan that took the South. After World War II, Vietnam was partially occupied by Japan and by its local communist leader. Ho Chi Minh took hold of North Vietnam and wanted to unify the country under his communist rule. The war lasted since 1955 to 1975 and took lives of more than 3 million people.
After the US forces withdrew from Vietnam in 1973, the communist forces took control of the country. They proclaimed the Socialist Republic of Vietnam and faced a vast ruin caused by decades of war. 2 million Vietnamese were killed and 12 million became refugees. The Vietnam economy sank into a deep crisis. At the same time, the US spent $120 billion on the war, which brought inflation and other difficulties to America.