POL208Y1 Chapter Notes - Chapter 6: Pax Britannica, Warsaw Pact, Mercantilism
Document Summary
Mercantilism: establishment of monopolies controlling trade and economics. Pursued econ/military interests by creating formal mercantilist colonial empires in some areas, less formal dominion in others. 2 fronts: subdue population of empire an expand at the expense of others. No one wanted war --> concert of europe. Territorial expansion post 1870 --> economic and security benefits. End of mercantilism = diminished empires, too costly. Changing of power balance --> political instability, ethnic. Treaties formed --> un, intention to work together. Economic integration - marshall plan, imf, world bank, investment, bretton woods = free trade, watt, new standard currency. Warsaw pact, countries specializing in products, economic integration. Colonial subjects fought to leave empires - violence. Us encouraged --> european empires while ussr and china did not have. Attempt to withhold resources - use bargaining position. Changing of power balance --> political instability, ethnic conflict, socio-economic stagnation. Germany trying to catch up, expand --> 2 hostile camps.
