
Contents
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1973–1978: Japan and West Germany 1973–1978: Japan and West Germany
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1973–1978: Britain and Italy 1973–1978: Britain and Italy
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1979–1984: the second Cold War and the rise of the dollar 1979–1984: the second Cold War and the rise of the dollar
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1979–1984: Japan 1979–1984: Japan
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1979–1984: West Germany and France 1979–1984: West Germany and France
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1979–1984: Italy and Britain 1979–1984: Italy and Britain
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1973–1988: Brazil and India 1973–1988: Brazil and India
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1985–1988: the falling dollar and American trade 1985–1988: the falling dollar and American trade
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1985–1988: Japan 1985–1988: Japan
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1985–1988: West Germany and the Erm 1985–1988: West Germany and the Erm
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1989–2001: American power after the Cold War 1989–2001: American power after the Cold War
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1989–2001: Germany 1989–2001: Germany
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1989–2001: France 1989–2001: France
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1989–2001: Italy 1989–2001: Italy
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1989–2001: Britain 1989–2001: Britain
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1989–2001: Japan 1989–2001: Japan
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1989–2001: India 1989–2001: India
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1989–2001: Brazil 1989–2001: Brazil
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1999–2001: Indonesia 1999–2001: Indonesia
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Conclusions Conclusions
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Notes Notes
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4 Crises and non-crises: financial liberalisation and the end of the Cold War
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Published:May 2008
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Abstract
This chapter explores the early consequences of the demise of Bretton Woods and American financial liberalisation, reporting the repercussions of the United States' economic and military power. West German firms quickly exploited the new markets and investment opportunities in Eastern Europe and the Soviet Union. The events of 1979 led the Carter administration to another change in dollar policy, with huge consequences. The consequences of the second oil-price shock, and the foreign and economic policies of the Reagan administration, were more beneficial for the British and Italian modern democratic nation-states. The United States' final victory in the Balkans demonstrated much about US dominance of the post-Cold War world. India shares serious economic problems with other post-colonial countries. The international trading order that has developed since the end of Bretton Woods retains the capacity to generate significant political problems for the states of post-colonial developing countries.
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