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Notes on video lecture:
1970s Obstacles to Reducing Cold War Tensions
Notes taken by Edward Tanguay on August 17, 2014 (go to class or lectures)


Choose from these words to fill the blanks below:
internationally, nothing, Monetary, South, Cambodia, land, surface, bureaucratic, devalues, larger, advanced, inflation, money, float, Bretton, unemployment, slave, power, stronger, SovietSoviet, inefficiencies, oil, erosian, Brazil, printing, strike, Iranian, Vietnam, economic, compensate, overruns, nuclear, Solzhenitsyn, import
large bureaucracies produced by the Cold War began show signs of
socialist economy models were beginning to show signs of
the feeling that both socialist and capitalist governments were become too big, entities engaged in a military competition
the inflation of 1970s
governments are spending and printing too of
common economic belief that if inflation goes up, would come down
even if it the currency
but governments discovered that you can indeed have high and high unemployment
end of the Woods financial system
1870s: World Money 1.0
gold exchange
1944: World Money 2.0
the Bretton Woods system
gold dollar standard
gold as anchor but print dollars
trouble maintaining the value of the dollar
established the International Fund (IMF)
1971: broke this system
really took this place
currencies go into a free against each other
1973: first shock spike in oil prices
oil producing countries raise price of oil
1978: another price jump because of revolution
how do these problems affect each model:
ISI: Import, Sustitute, Industrialize (e.g. : trade low, support local)
any oil you becomes more expense
you have few exports so it is hard to
you may even have to pay more subsidies to further protect your industries
you'll start money
creates endemic and hyper inflation
EOI: Export Oriented Industrialization
Japan, Korea
depressed their domestic standard of living in order to compete
as economy worsens globally, you are not able to export as much
United States suffers a defeat in the War
1973 troops out, signs treaty
treaty breaks down
North Vietnam South Vietnam
it feels like the expansion of American power is in retreat
it looks in ways that the USSR is getting during the 70s but socialisms were having economic troubles
obstacles to reducing the peaceful coexistence
1. exposed realities such as Alexandr
exposes Soviet Union's labor system
2. each superpower has different forces
Soviet army much
NATO forces more
but this means that if Soviet force overrun Europe, NATO countries have to be the first to use weapons
i.e. will the United States sacrifice Chicago to save Hamburg?
3. Nuclear asymmetry
Soviets have huge force of heavy -based missiles
USA has longer missiles and submarines
USA feels Soviets would tend to first
Soviets fear that USA will build up too much and offset the balance
4. ongoing struggles in Third World
each was seeking unilateral advantage
Vietnam finds itself at odds with Chinese dominated
Vietnam invades Cambodia putting an end to the genocide being conducted by that communist regime
Angola being secretly backed by each superpower
Somalia, Soviets supporting military dictator, sides get help from each superpower
El Salvador, Guatemala
5. Afghanistan invasion
Soviets feared that the Americans would get involved, but this move seen largely as aggression
military balance looked stable on the but not when you looked deeper
Vocabulary:
adjudicate, v. give a judicial decision ⇒ "The realistic path for the superpowers was to adjudicate the conflicts and disputes among themselves." |
People:
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######################### (1918-2008) Russian novelist, historian who helped to raise global awareness of Soviet Union's forced labor camps
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