It ensured economic stability of israel and middle

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It ensured economic stability of Israel and Middle eastern countriesSocialIt ensured no future wars imminent and reduced tensionsIran-Contra AffairPoliticalWas able to take care of Iraq and stop spread of communism in NicaraguaEconomicMade money from Iran all the while indirectly helping anti communistsSocialStopped spread of communismMarines in LebanonPoliticalIt started a war on terror against HezbollahEconomicIran was ordered to pay 2 billion dollars as compensation for MarinesSocialHezbollah was stamped as a terror organizationIran Hostage CrisisPolitical- It permanently scared the relation ship between US and Iran and made them enemies for ever.
EconomicHuge economic impact on Iran with several round of sanctions laterSocialThe US -Iran relationship soured and fundamentalist muslim leaders who came to power oppressed womenEnd of the Cold WarPoliticalCommunism was defeated in many parts of the worldEconomicHuge spending on arms stopped by US and USSR had a big economic impactSocialCommunist policies were dropped and capitalist economy followed in many countriesPersian Gulf WarPoliticalIraq was defeated and Kuwait, Saudi Arabia and other countries felt safeEconomicOil started flowing again freely further improving economy all around the worldSocialCreated tensions between Iraq and other muslim countries.Balkans CrisisPoliticalNew countries such as Kosovo, Bosnia were establishedEconomicWarimpacted the region’s economySocialMuslims were able to live safely again9/11PoliticalWar against terrorism was taken up seriouslyEconomicHuge impact on US economy with increased security cost, spent billions on overseas warsSocialMinorities faced severe backlash in several parts of the country, tarnished the image of muslim faith inAmericaHow did each of these impact the US Free enterprise system?12E OPECOrganization of Petroleum Exporting CountriesOPEC cartel was able to control the price of the oil and it had a huge impact on amercian economy as fuel is a bigcost for businesses. OPEC can control the price of oil to their advantage thus making US free enterprise dependenton OPEC.GATTGeneral Agreement of Tariffs and TradeGATT was formed as a Single organization to discuss trade and tariffs issue for all world countries. It Improved tradeamong member nations with a big impact on economy. US companies were able to find new markets all over theworld.
NAFTANorth Atlantic Free Trade AgreementNAFTA was a free trade agreement between Canada, US and Mexico. US had access to cheaper labor and found anew big Mexican market to sell products to. It increased trade between member countries and had a big positiveimpact on US free enterprise system.

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Term
Fall
Professor
Roux
Tags
Richard Nixon, President of the United States, George H W Bush

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