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Summary Of Part 4 Glevin

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In Glevin’s book, Part IV introduces us to the contemporary era of the Modern Middle East. This era starts at the end of the First World War, and Gelvin splits it into two sections. The first section being from the Great Depression until the early 1970’s. The second section starting in the 1970’s and lasting until the present day. The introduction focuses on the global politics and the world economics during this time period. Specifically, this paper will cover how the global politics effect the local economic systems. For the reading, it is apparent that the global politics negatively impact the economic systems in the Middle East. One example of the negative impact on economic systems is the decolonization of the Middle East. Decolonization …show more content…

These countries called for the Bretton Woods system to be ended and replaced by the New International Economic Order. This new system would take into consideration and be more responsive the needs of the Third World. There was two events, the collapse of the Bretton Woods system and the oil shock of 1973-1974, that brought the demands of the third world countries to the forefront. In response, the different developed countries responded differently. For example, the Europeans wanted to compromise with the Third World. The Japanese tried to negotiate deals with them. But the Americans, they went in opposition of the third world counties. Their stance was neoliberalism, the separation of politics and economics. Meaning that one lets the markets govern themselves, with little restrictions. Eventually, America was able to encourage other industrialized countries to join their side. In the third world countries, the start of neoliberalism resulted in riots that were the citizen’s ways of expressing their anger over the neoliberalism system. A reason for America wanting to impose Neoliberalism was that they wanted to continue to be the top economic power. With the fall of the Bretton Woods system, America was beginning to have rivals, fighting for the spot as the top economic power. America was able to impose this new global politic/ economic system because of their power has the economic power and an industrialized

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