Global Cold War and Economic Transformations

📋 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