Capitalist Peace by Zeiler Thomas W.;
Author:Zeiler, Thomas W.;
Language: eng
Format: epub
Publisher: Oxford University Press, Incorporated
Published: 2022-06-15T00:00:00+00:00
Carter took office after the worst economic downturn in postwar history, though by 1977, the economy was in recovery until fears of recession became nightmares by the end of his term as interest rates skyrocketed along with joblessness. This so-called stagflation crisis shaped his trade agenda as high interest rates led to a strong dollar, at the expense of the industrial export sector. Along with the Soviet invasion of Afghanistan and the disastrous hostage crisis in Iran, the economy wrecked his presidency. Nevertheless, Carter remained a firm trade internationalist, a stance bolstered by his advocacy for human rights, cultivation of North-South relations, and moderation toward the new trading power on the block, Japan. âOur desire for justice, stability, and peace finds practical expression in world trade,â he proclaimed after a few months, with capitalist peace rhetoric.72
When it came to the foreign policy of trade, Carter focused on the global South by seeking to reverse the Kissinger era of âconfrontation politicsâ dividing the emerging nations. Carter was genuinely repentant about Washingtonâs history of intervention in the developing world. America had also become dependent on raw materials like oil, nickel, lead, and tin, so confrontation was counter-productive. For its part, inspired by OPECâs effectiveness in raising oil prices, the global South sought help for booming populations and yawning poverty through growth, managing natural resources, dealing with terrorism, stabilizing food prices, gaining technology, and for some, joining the nuclear club. Carter vowed a new global order of equity and hopeâa new progressive take on the capitalist peaceâcentered on âbasic human needsâ (food/nutrition, health services, and education) to attack dire poverty. He shifted the focus to poor people, rather than poor nations, experimenting with creative development strategies. This all amounted to a try at a more systematic foreign assistance program than before, but it failed because the developing world saw it as patronizing and Americans as too interventionist. Even having a North-South policy was questioned; like Kissinger before him, Carter failed to construct a compelling concept of development. The eruption of superpower tensions midway through his term also shifted his priorities. Besides, his coddling of dictators, like the Philippinesâ Ferdinand Marcos and the Shah of Iran, belied his intentions to an extent.73
Regardless, reform of institutions (including the GATT), cooperation with UNCTAD (with a hope of phasing out preferences), and increasing market access for poor nations at the Tokyo Round (without poking the protectionist bears at home) shaped the agenda. The caveats reflected traditional policies because the administration sought long-term adjustments to problems rather than quick fixes for political reasons. Kennedy, another reformer, had paid attention to development, but in an era of prosperity. Facing hardship at home and abroad, Carter prioritized the âNorth-South dialogueâ at a time not conducive to reform.74
A task force warned of inroads on the capitalist peace regime. While protectionism could hurt the US economy, it cautioned that trade conflicts âcould also have a seriously adverse effect on U.S. foreign policyâ because economic issues were so central to both rich and developing nations.
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