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LO6 - Marshall Plan(1948 Korean War(1950-1953 “Military...

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INTB 3351 Lecture Outline The Reconstruction of the Global Economy, 1945-1971 1. New World Financial Order Bretton Woods System (BWS) Four pillars: 1) Gold-dollar system; 2) IMF; 3) World Bank; 4) GATT Keynesian compromise between economic nationalism and internationalism 2. The Cold War Post-WWII crisis Secondary cause - Soviet expansion Primary cause - “Dollar Gap” (struggling European and Japanese recovery) and U.S. isolationism Attempted solutions to Dollar Gap Truman Doctrine (1947)
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Unformatted text preview: Marshall Plan (1948) Korean War (1950-1953) “Military Keynesianism” Jump-started the reconstruction and reintegration of the global economy 3. Prefiguring the Second Global Economy European Economic Community (EEC) Trade Liberalization under GATT U.S. FDI Transportation and Communication technologies Redirection of Foreign Direct Investment Flows Terms International Monetary Fund (IMF) World Bank NSC-68 Treaty of Rome Kennedy Round PL 480 Ideal-X...
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