Global Cold War and Economic Transformations

Извадка от листа за преговор

📋 Course Outline

  1. Oil crises and stagflation in the West
  2. Decline of Fordist growth and deindustrialization
  3. Neo-liberalism and deregulation reshaping order
  4. China’s reforms and opening under Deng
  5. Special Economic Zones and export-led growth
  6. Tiananmen crackdown and international repercussions
  7. Ronald Reagan and the rise of neoliberalism
  8. Second Cold War and SDI arms race
  9. Gorbachev’s perestroika and glasnost reforms
  10. Sinatra Doctrine and Eastern Europe transitions
  11. Fall of the Berlin Wall and German reunification
  12. Dissolution of the USSR and end of Cold War

📖 1. Oil crises and stagflation in the West

🔑 Key Concepts & Definitions

  • Thirty Glorious Years : A post-1945 period of strong Western economic growth when oil prices stayed low and car/plane production expanded.
  • Oil weapon by OPEC : A strategy where oil-producing states used production cuts and shipment decisions to pressure Western governments.
  • First oil shock : The 1973 oil crisis triggered by the Yom Kippur war and OPEC-led production cuts aimed at Western support for Israel.
  • Second oil shock : The 1979 oil crisis driven by the Iranian Revolution and renewed OPEC price increases.
  • Stagflation : An economic situation where inflation rises while unemployment is high and economic growth is weak or absent.

📝 Essential Points

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Преглед на теста

1. What best describes stagflation in the Western economies of the 1970s?

2. What was the main strategy behind the oil weapon used by OPEC?

3. What does deindustrialization refer to?

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Преглед на флашкартите

Thirty Glorious Years — definition?

Post-1945 period of strong Western economic growth.

Oil weapon by OPEC — role?

Used production cuts to pressure Western governments.

First oil shock — triggered by?

Yom Kippur war and OPEC-led production cuts in 1973.

Second oil shock — cause?

Iranian Revolution and OPEC doubling prices in 1979.

Stagflation — components?

Inflation, high unemployment, little/no growth.

Fordist model — what?

Mass manufacturing with large firms and assembly lines.

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