By Francis J. Gavin, Mark Atwood Lawrence
In writing approximately overseas affairs within the Sixties, historians have obviously fascinated about the chilly battle. the last decade featured perilous confrontations among the us and the Soviet Union over Berlin and Cuba, the large buildup of nuclear stockpiles, the escalation of warfare in Vietnam, and sour East-West competition during the constructing international. because the international ancient strength of globalization has quickened and deepened, besides the fact that, historians have began to work out that the various international demanding situations that we are facing today
Beyond the chilly War examines how the management of President Lyndon B. Johnson replied to this altering overseas panorama. To what quantity did U.S. leaders comprehend those alterations? How did they prioritize those concerns along the geostrategic issues that ruled their day-by-day agendas and the headlines of the day? How effectively did americans grapple with those long-range difficulties, with what implications for the long run? What classes lie within the efforts of Johnson and his aides to deal with a brand new and inchoate time table of difficulties? through reconsidering the Sixties, this paintings indicates a brand new learn schedule predicated at the concept that the chilly warfare was once now not the single - or even even crucial - function of foreign lifestyles within the postwar interval.
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Extra resources for Beyond the Cold War: Lyndon Johnson and the New Global Challenges of the 1960s
During that decade, capital markets reintegrated as the London-based Euromarkets enabled money holders to circumvent controls. So long as fixed exchange rates prevailed and governments favored autonomous policies, it was virtually inevitable that the march of interdependence would be disruptive for the international order that Keynes and White had constructed. The next act in the crisis of Bretton Woods would be even more dramatic than the turmoil of 1968. As president, Richard Nixon was less committed to multilateral cooperation than Lyndon Johnson had been, and American efforts to reform the international monetary order atrophied after the 1969 activation of Special Drawing Rights.
3. Martin’s perspective is now corroborated by White House documents suggesting that administration officials viewed war spending and domestic growth as the major sources of US payments difficulties. See Bator to LBJ, May 11, 1966, Foreign Relations of the United States 1964–1968 (hereinafter FRUS 1964–1968), vol. VIII. : United States Government Printing Office. Document no. 95. 4. William McChesney Martin oral history, LBJL. 5. The phrase is taken from the chair of LBJ’s Council of Economic Advisers.
In 1965, the dollar came under attack when French President Charles de Gaulle denounced its role in the monetary system as a source of seignorage (the profit made by a money issuer) and called for a return to the gold standard. While de Gaulle forgot the contributions that the United States had made to Europe’s postwar recovery and the disproportionate share of NATO’s collective burdens that it still bore, he was correct in his assertion that Europe’s willingness to hold dollars as a reserve asset allowed the United States to export its deficits.