Lecture 4

Lecture 4 - October 12, 2009 INTRODUCTION TO INTERNATIONAL...

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October 12, 2009 INTRODUCTION TO INTERNATIONAL ECONOMY MEREDITH HUBER PS 186 LECTURE 4 CURRENT EVENTS Agreement signed between Armenia and Turkey (what’s left of the Ottoman Empire—Central Powers WWI, became independent states—Iraq, Syria, Lebanon, Turkey = core). Genocide of Armenians (previously Soviet Union) by Turkey—led to bad relations, border frozen. Agreement to allow movement between the 2 countries—represents a breakthrough in relations. Economic—direct effect is minimal, how could this lead to a change in the geopolitical battle? Will Armenia loosen its relationship with Moscow and tighten with Western Powers. Caspian Sea = source of oil and natural gas. This could benefit Armenia’s economy which is mainly agricultural—perhaps not as dependant on the Russian market to the north. Oil and Natural Gas: difficult and expensive to extract. Western European countries are highly dependent on Russia; to have an alternative would be a strategic advantage Nobel Prize in Economics: Two American social scientists, one economist and one political scientist. Both work in economic governance, first woman Eleanor to be awarded the prize. HISTORY OF THE GLOBAL ECONOMY International Economic History—Interwar Period 1. Major Developments 2. Political economy issue: What explains the failure of the attempted reconstruction during 1920’s 3. Renewed Breakdown (Great Depression) during 1930’s Interwar Period = End of WWI (1918—The start of WWII) WWI—was known as the Great War (1914-1918) o Marked a dramatic turning point o Prior to 1914 = the first era of globalization: the world economy was open, entered a level of interdependence, many people thought it was impossible that war could even happen. o Realists say that in the end power politics trump economic—war broke out Formation of the German Empire 1870—became the dominant economic power on the continent of Europe
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October 12, 2009 INTRODUCTION TO INTERNATIONAL ECONOMY Gradually two big alliances: Central Powers and Allies
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This note was uploaded on 06/06/2010 for the course POL S 186 taught by Professor Cohen during the Winter '10 term at UCSB.

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Lecture 4 - October 12, 2009 INTRODUCTION TO INTERNATIONAL...

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