In Chapter 25 of the American Yawp, it talks about the Cold War. Relations were soured between the United States and the Soviet Union after World War II. The Truman administration still sought US-Soviet union cooperation. The Cold War was a global political and ideological struggle between capitalist and communist countries, particularly between the two surviving superpowers of the postwar world: the United States and the Union of Soviet Socialist Republics (USSR). “Cold” because it was never a “hot,” direct shooting war between the United States and the Soviet Union, the generations-long, multifaceted rivalry nevertheless bent the world to its whims.
The July 1944 United Nations Financial and Monetary Conference, known as the Bretton Woods Conference, who created the International Monetary Fund (IMF) and the forerunner of the World Bank, the International Bank for Reconstruction and Development (IBRD). The “Bretton Woods system” was bolstered in 1947 with the addition of the General Agreements on Tariffs and Trade (GATT), forerunner of the World Trade
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From 1948-1952 the US invested $13 billion toward reconstruction while simultaneously loosening trade barriers. To avoid the postwar chaos of World War I, the Marshall Plan was designed to rebuild Western Europe, open markets, and win European support for capitalist democracies. The Soviets countered with their rival Molotov Plan, a symbolic pledge of aid to Eastern Europe. Polish leader Józef Cyrankiewicz was rewarded with a five-year, $450 million dollar trade agreement from Russia for boycotting the Marshall Plan. Stalin was jealous of Eastern Europe. When Czechoslovakia received $200 million of American assistance, Stalin summoned Czech foreign minister Jan Masaryk to Moscow. Masaryk later said that he “went to Moscow as the foreign minister of an independent sovereign
as population grew, less land was available for children (this led to some people wanting t expand out west)
The Cold War in 1945 to 1953 brought about a period of tension and hostility due to the feud between the United States and the Soviet Union. The period began with the end of the Second World War. The situation acquired the title for there was no physical active war between the two rivals. The probability of the tension got to be the fear of the then rise in nuclear ammunition. Things began to roll when a US based U2 sky plane got to take photos of some USSR intermediate ballistic missiles with the capability of transporting nuclear heads.
During 1940-1970, the USSR and the USA were the world’s leading superpowers. After WW2, it was the US money that helped rebuild nearly all of Western Europe, putting nearly half a dozen countries into debt. They opened trade and helped Europe’s ravaged economy to get back onto its feet. They did so by creating the ‘Marshall Plan’ on June the 5th, 1947. The plans aim was to reconstruct Western Europe and at the same time to stop Communism spreading to them – the Americans were avid believers in the Domino Theory, and believed that communism would take over all of Europe if they did not intervene. They also created other policies such as the Truman doctrine on March the 12th, 1947 (which is a set of principles that state that the US as the worlds ‘leading country’ will help out other democratic governments worldwide) and NATO, 4th of April 1949.
The Cold War was a post-World War II struggle between the United States. and its allies and the group of nations led by the Soviet Union. Direct military conflict did not occur between the two superpowers, but intense economic and diplomatic struggles erupted in the country. Different interests led to mutual suspicion and hostility in a rising philosophy. The United States played a major role in the ending of the Cold War.
The Cold War is the long time war that was taken among the former USSR and the United States of America, and the war started immediately after the end of World War II. This war was essentially a clash, or a war, of two different ideologies; the Capitalism and the Communism. The Collapse of the former Soviet Union and its transition toward the free market economy proved that capitalism and its principles as the proper way of life.
The Cold War was an argument between the Soviet Union and the United States of America after WWII. During WWII the USA and the Soviet Union were allies fighting a common cause: Adolph Hitler who was attempting to overthrow the surrounding countries. Although the USA and the Soviet Union were allies, the relationship between the two countries was very tense (What Was). Neither country trusted the other. After WWII their relationship became even more tense due to the building of new weapons capable of destroying entire countries.
Dwight D. Eisenhower once said, "Every gun that is made, every warship launched, every rocket fired signified, in the final sense, a theft from those who hunger and are not fed, those who are cold but not clothed." There was never a war that this idea can be more correct applied to than the Cold War. According to noted author and Cold War historian Walter Lippman, the Cold War can be defined as a state of tension between states, which behave with great distrust and hostility towards each other, but do not resort to violence. The Cold War encompasses a period from the end of the Second World War (WWII), in 1945, to the fall of the Soviet Union, in 1989. It also encompassed the Korean and Vietnam Wars and other armed conflicts in the Middle East and Africa, that, essentially, were not wars for people but instead for territories and ideologies. "Nevertheless, like its predecessors, the Cold War has been a worldwide power contest in which one expanding power has threatened to make itself predominant, and in which other powers have banded together in a defensive coalition to frustrate it---as was the case before 1815, as was the case in 1914-1918 as was the case from 1939-1945" (Halle 9). From this power contest, the Cold War erupted.
The post-war world left the Soviets and the United States in an ideological power struggle. The origin of the cold war is hard to pinpoint. There were several issues and disagreements that led to it. The political differences between the 2 nations were absolute opposites. America was a democracy, a system that allows its citizens to choose the political party in which runs the government. The Communists were led by one of the most vicious dictators in human history, Joseph Stalin.
The main cause for the demise of Bretton Woods is associated with the inflationary pressures brought about by the expansionary fiscal policies in the United States and the propagation of these inflationary pressures through the international system. Inflation can be an extremely unpleasant phenomenon, distorting consumption and investment decisions, and erodes faith in markets and government. The increasingly expansionary fiscal policies of the 1960’s resulting from both the Vietnam War and the Great Society experiment of the Kennedy-Johnson administrations led to a growing balance of payments deficits. The accumulation of idle dollar balances started to put pressure on the money supply of the rest of the world, causing inflation.
From when World War II ended in 1945, all the way up to the collapse of the Soviet Union in 1991, the Cold War was the center of attention of international affairs. It was a struggle between the United States and the Soviet Union. From an American view the Cold War was a mostly a war on communism. The US caused and maintained the Cold War, the US is to blame for the Cold War for disparish of the communist Soviet Union in support of the political and economic systems.
Terborgh, Andrew. "The Post-War Rise of World Trade: Does the Bretton Woods System Deserve Credit?” Department of Economic History, London School of Economics. Sept. 2003: p. 1-73.Web. 13 Apr. 2014. .
The theme of this essay outlines two things. One, the key elements of Bretton woods system and second, the characterisation of Bretton woods system by Ruggie as ‘embedded liberalism’, and how far he succeeds in it. The Bretton woods system is widely referred to the international monetary regime, which prevailed from the end of the World War 2 until the early 1970s. After the end of the World War 2, the need of international monetary framework to boost trade and economic; growth and stability, was important. Taking its name from the site of the 1944 conference, attended by all forty-four allied nations; the Bretton Woods system consisted of four key elements. First, to make a system in which each member nation has to fix or peg his currency exchange rate against the gold or U.S. dollar, as the key currency. Secondly, the free exchange of currencies between countries at the established and fixed exchange rate; plus or minus a one-percent margin. Thirdly, to create an institutional forum, so-called International Monetary Fund (IMF), for the international co-operation on money matters: to set up, stabilize, and watch over exchange rates. Fourth, to remove all the existing exchange controls limiting (protectionism) policies by the members, on the use of its currency for international trade. In practice the first scheme, as well as its later development and final demise, were directly dependent on the preferences and policies of its most powerful member, the United States. According to John Gerard Ruggie, 1982, this Bretton woods system of monetary co-operation represented the type of liberalism which characterise “domestic social economic stability along with a liberal trading order.” He referred this system as ‘embed...
After the failed International Trade Organization, Rodrik discusses the Bretton Woods Agreement, the transition from the General Agreement on Tariffs and T...
In the year of 1327, Kind Edward III of England defaulted on his Italian debts. This caused the banks of Bardi and Peruzzi in Florence to collapse. Who would know that over 650 years later, the world would still have these types of problems? After World War II, the need for an organization like the IMF was finally realized. After the war, politicians and economists began to work on blue prints for a postwar world. They envisioned a liberal international economic order, based on stable world currencies and revived world trade. The International Monetary Fund (IMF) finally came into existence on December 27, 1945. On this date, twenty-nine countries signed its charter when meeting at Bretton Woods, New Hampshire. On March 1, 1947 the IMF came into financial operations.
Globalization was derived from colonialism to control over previously colonized nations, and the way it did so was through the creation of the World Bank in 1945. Globalization is defined in Steger's book as, "the expansion and intensification of social relations and consciousness across world-time and world-space" (Steger 15). Globalization included numerous aspects but one that had heavily influence countries across the world was the World Bank, previously known as The International Bank for Reconstruction and Development. The World Bank was created during the Bretton Woods Conference, a t...