World War I shattered the nineteenth century global system that had brought an unparalleled expansion in trade and economic development. Globalization lurched into a dramatic reverse. George Kennan’s remark that World War I dramatically narrowed the options available to statesmen applied no less to merchants, financiers, and consumers. What became known as the “special relationship” between the Great Britain and the United States guided three efforts at refashioning a stable global economic order. The first attempt following World War I failed by the late 1920s, but Anglo-American cooperation after 1945 laid a foundation for prosperity across the free world. More…
|Cold War, Democracy Promotion, free trade, Margaret Thatcher, Ronald Reagan, Special Relationship
