america firstSyndicate content

Columnists

Making nice with Washington is not a foreign policy

PMO Photo by Adam Scotti

Canada ended the Second World War as the third-ranking world power.

Though greatly eclipsed by the United States (and the Soviet Union), Canada was positioned ahead of the traditional great powers, France, Germany, the U.K. and China. Weakened by war, none were able to play a substantial role on the world scene.

At the crucial juncture when postwar direction was set and the Bretton Woods institutions, the UN and NATO established, policies championed by the U.S. dominated the world.

Enjoying a brief period of enhanced stature because of its strong (centrally planned) wartime economy, Canada developed a "quiet diplomacy" approach to the world hegemonic power.

The idea was to use close relations with the U.S. to exert influence on the world scene.

Comments

We welcome your comments! rabble.ca embraces a pro-human rights, pro-feminist, anti-racist, queer-positive, anti-imperialist and pro-labour stance, and encourages discussions which develop progressive thought. Our full comment policy can be found here. Learn more about Disqus on rabble.ca and your privacy here. Please keep in mind:

Do

  • Tell the truth and avoid rumours.
  • Add context and background.
  • Report typos and logical fallacies.
  • Be respectful.
  • Respect copyright - link to articles.
  • Stay focused. Bring in-depth commentary to our discussion forum, babble.

Don't

  • Use oppressive/offensive language.
  • Libel or defame.
  • Bully or troll.
  • Post spam.
  • Engage trolls. Flag suspect activity instead.
Image: Flickr/Michael Vadon
| January 30, 2017
Columnists

Trumponomics unsettles Trudeau with threats to Canada-U.S. trade

PMO Photo by Adam Scotti

Only one country in the world issues a currency that is held and recognized in every country in the world. The U.S. dollar has been de facto the world currency since the Bretton Woods accords of 1944.

Having your money accepted for payment in other countries means the U.S. does not have to earn foreign currency abroad or borrow in other currencies.

Other countries try to earn U.S. dollars by selling more than they buy from the rest of the world. When not earning U.S. dollars, countries have to borrow dollars.

Borrowed U.S. dollars have to be repaid in newly earned dollars. Such U.S. dollar-denominated debt is a real constraint on governments the world over.

Comments

We welcome your comments! rabble.ca embraces a pro-human rights, pro-feminist, anti-racist, queer-positive, anti-imperialist and pro-labour stance, and encourages discussions which develop progressive thought. Our full comment policy can be found here. Learn more about Disqus on rabble.ca and your privacy here. Please keep in mind:

Do

  • Tell the truth and avoid rumours.
  • Add context and background.
  • Report typos and logical fallacies.
  • Be respectful.
  • Respect copyright - link to articles.
  • Stay focused. Bring in-depth commentary to our discussion forum, babble.

Don't

  • Use oppressive/offensive language.
  • Libel or defame.
  • Bully or troll.
  • Post spam.
  • Engage trolls. Flag suspect activity instead.
Syndicate content