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Week 7 Reading.docx

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University of British Columbia
HIST 103
Jeffrey Byrne

Search: manifesting niccolo machiavelli ideology in contemporary politics AND USSR Week 7 Keyterms Panama Canal opening, 1914 - Suez Canal was completed earlier  this project was then handed to the same engineer who completed the Suez Canal - the project began in 1904 and completed in 1914, was taken over from France by the US - opening the passage has accelerated trade activities + boost American naval strength All-America Cables company (1940) - An American company - **helped to aid communication for the US  sped up decision during war, making declaration, spreading propaganda  helped information to spread at a faster pace American Associated Press (AP) - it is American based - had its role during Civil War, Spanish-American Civil War - expanded from print to radio to broadcast news - its existence throughout WWI and WWII had helped to disseminate information at that time International Telegraph Union (ITU) - was founded in Paris - the first invention that allowed long-distance communication  international communication was created Radio Corporation of America (RCA) – (1919-1986) - American electronic company  before the establishment of RCA, radio station was foreign- owned  theyre used to transmit Morse Code International Radio-telegraph Union (IRU) - American owned - enabled news to be transmitted to a larger audience, faster than before “Fordism” - Policy of winning workers’ loyalty by producing commodity as cheaply as possible  influenced the direction of capitalism by the end of WWII - drawback: doesn’t offer the opportunity to be creative  the work division system that promotes uniformity and aims to achieve the targeted time - inception of mass production and mass consumption  by taking advantage of the economies of scale The Jazz Singer, 1927 - marked the end of silent film  was the first film with dialogue and music in it - an American musical film, preserved in the US Library of Congress National “Americanization of the world” or the “globalisation of American culture” - spread through American film, American music. All of these were made possible by radio, television, mass production which assisted the spread of American culture Great Depression (1929 – 1940) - Collapse of American stock market  role of US as the largest producer, lender and investor - Non-real assets - Resulted from the abandonment of gold standard during WWI - Protectionism - With the aim to protect infant industries (duties, tariffs, quotas) - Triggered by economic nationalism - Ultimate effect: change global economic relationship - Europe began to lose its grasp on global trade Hawley-Smoot Tariff, 1930 - In response to the Great Crash (Stock Crash in 1929) - Raised duty to 59%  decline and income and widespread of unemployment - Domino effect: other nations began to be protectionists to tackle: decline of price and unemployment problem - Unclogged by Reciprocal Trade Agreement  which only reduce the previous Hawley- Smoot Tariff Britain-France-US Tripartite Agreement, 1936 - In respond to the Great Depression to stabilize currency value - Initially with: Britain and France and later joined by: Belgium, Netherlands, and Switzerland - Action taken: sell each other gold in exchange for the seller’s own currency at an agreed upon price - Effect:  Ensure economic revival  Provide a safe range of value for gold for each country’s currency - Other effects:  Central Europe and Latin America restricts their capital transfer Roosevelt’s “Good Neighbour” policy in Latin America - Enacted in 1933  respecting the rights of others, respecting his obligations and the sanctity of his obligations in and with a world of neighbors - Ultimate effect: put an end to military intervention and financial supervision  US doesn’t use the method of direct intervention anymore but they used the method of indirect intervention through financial assistance  Among the actions done were withdrawing US troops from Nicaragua and Haiti - BUT: use non-coercive means: 1) American Export-Import Loan to preserve the US business in Latin America, 2) - US sought to relinquish its treaty rights to intervene  withdrew its military force in Nicaragua - Haitian bank purchased from bank of New York  Haiti able to regain control on its finance - British domination in Latin America Search: manifesting niccolo machiavelli ideology in contemporary politics AND USSR - Wilson uses the policy of military intervention and dollar diplomacy - Helped Nicaragua financially - Occurred after the European weakened, intervened because Wilson didn’t want Europe to take control of Latin America Week 7 Reading: Ch. 3, pg 79 – 90 - In 1920s: political leaders have been warned of the transformed political and economic structures and the governance method needs to be changed. - A superficial economic recovery - caused the political leaders to ignore the systemic weaknesses in the world economy and avoid introducing new policies to suit the altered situation - Economic depression: occurs in the first 5 years. It all begins with each nation’s lack of resources. From there, reliance on trade begins  From the depression, 2 things that can be learned: 1) advantages of economic self- sufficiency, 2) the dangers of dependence on foreign markets and source of supply - In Europe, it’s impossible to be self-sufficient due to demographic factors: 1) Insufficient food-producing land 2) Insufficient raw materials 3) Insufficient markets wi
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