Topic of Study [For H2 History Students]:
Paper 1: Understanding the Global Economy (1945-2000)
Section B: Essay Writing
Theme II Chapter 1: Problems of economic liberalisation
Historical background
In 1944, an international monetary agreement was signed in 1944 at the Bretton Woods Conference. Under this agreement, foreign currencies were defined in terms of the US dollar (USD). A new system was established in the post-WWII period to replace the Gold Standard that ended in 1993 following the Great Depression.
Under this system, a fixed exchange rate was established, in which one ounce of gold is equivalent to 35 USD.
When nations participate in a pegged exchange-rate system, they agree to fix the value of their currencies relative to another currency rather than to a commodity such as gold. The US dollar was chosen as the base currency and all the countries agreed to keep the value of their currency within plus or minus 1 percent of a specific value of the dollar. […] In contrast to all other nations, the US currency maintained a relationship with gold fixed at $35/ounce. Thus, because the US dollar remained fixed to gold, this was an indirect gold standard, but nations used US dollars rather than gold to settle international transactions.
An excerpt taken from “International Business: Strategy and the Multinational Company” by K. Praveen Parboteeah and John B. Cullen.
With support from the International Monetary Fund (IMF), an automatic adjustment helped nations to avoid the onset of deflation, thereby maintaining stable exchange rates. By the late 1950s, key trading nations loosened exchange restrictions to accept the international gold standard.
Dollar shortage & the Gold Pool
Following the Second World War, governments in Western Europe imported US-made machinery and merchandise. Consequently, there was a surge in demand for USD, given that more nations underwent post-war economic reconstruction. During the Presidential polls in August 1960, US Senator John F. Kennedy declared his plan to “get America moving again“, giving rise to a ‘gold rush’.
As a result, the increase in market price of gold in London to $40 sparked fears of an unstable USD-gold parity. As such, a “Gold Pool” was created in November 1961, in which eight central banks agreed to buy and sell gold only at the official price of $35. Seven other central banks agreed to provide half of the gold supply to keep the market price of gold stable.
The spike in the London market price sparked fears that governments, seeing the writing on the wall, might demand wholesale conversion of their dollars into gold. In response, the US Treasury provided the Bank of England with gold to be used to bring the price of gold on the London gold market, where the metal was bought and sold by private investors (some would say “speculators”), back down to $35, and the governments of principal industrial countries agreed to refrain from buying gold at a higher price.
[…] What the left hand gave, the right hand taketh away, in other words, in a classic instance of a collective-action problem. As a result, the Gold Pool did little to resolve the internal contradictions of what was now referred to as the Bretton Woods gold-dollar system.
An excerpt taken from “The Bretton Woods Agreements: Together with Scholarly Commentaries and Essential Historical Documents” by Naomi Lamoreaux and Ian Shapiro.
Overvaluation of the USD: A currency crisis and a gold glut
However, the USA faced problems with the system. In the early 1960s, the USA experienced rising inflation. As a result of inflation, the increase in silver prices made it difficult for the USA to ensure adequate circulation of coins and silver certificates. In response, the Congress repealed the Silver Purchase Act in 1963 and enabled the Federal Reserve to produce notes in $1 and $2 denominations. At the same time, silver certificates were gradually retired, thus freeing up the silver holdings for use as coins.
Yet, inflation persisted. In 1968, the Congress repealed the requirement to hold gold reserves against Federal Reserve notes. This led to the collapse of the “Gold Pool”.
By the late 1960s, the inflationary condition exacerbated by the large spending to finance the ‘Great Society’ and the Vietnam War strained the international monetary system. Although a two-tier gold market was created in March 1968, foreign governments viewed it with much skepticism. Central banks were unwilling to accept USD in settlement.
The Bretton Woods was based on gold, but the global gold stock could not meet the world’s demand for international reserves, without which pegged exchange rates were impossible. Consequently, the United States provided dollar reserves by running a persistent balance of payments deficit and promised to redeem those dollars for gold at $35 per ounce. By 1961, however, the amount of dollar claims outstanding began to exceed the US government’s stock of gold. The deficit of gold implied that the United States might not be able to keep its pledge to convert dollars for gold at the official price.
[…] The prospect of a dollar devaluation created strong incentives to exchange dollars for US gold. The US Treasury and the Federal Reserve tried to keep this from happening through stop-gap measures, but they could not solve the underlying paradox: Without additional dollar reserves, the system was unworkable; with additional dollar reserves, the system was unstable.
An excerpt taken from “Currency Stability and a Country’s Prosperity: “Does a Mandatory Currency Stability Law Determine the Stability and or Prosperity of a Country?” by John E. Baiden.
As a result, US President Richard Nixon ‘closed the gold window‘ in August 1971, thereby disallowing foreign central banks from exchanging USD for the US Treasury’s gold. Notably, Nixon blamed other countries for their reluctance to share the military burden of the Cold War, which in turn contributed to the persistent balance of payments deficit.
What can we learn from this article?
Consider the following question:
– How far do you agree that the problems of the Crisis Decades were the result of American economic policies?
Join our JC History Tuition to learn more about the Global Economy. The H2 and H1 History Tuition feature online discussion and writing practices to enhance your knowledge application skills. Get useful study notes and clarify your doubts on the subject with the tutor. You can also follow our Telegram Channel to get useful updates.
We have other JC tuition classes, such as JC Math Tuition and JC Chemistry Tuition. For Secondary Tuition, we provide Secondary English Tuition, Secondary Math tuition, Secondary Chemistry Tuition, Social Studies Tuition, Geography, History Tuition and Secondary Economics Tuition. For Primary Tuition, we have Primary English, Math and Science Tuition. Call 9658 5789 to find out more.
What is POSCO in South Korea?
/in Uncategorized/by Justin NgPaper 1: Understanding the Global Economy (1945-2000)
Section B: Essay Writing
Theme II Chapter 3: Rise of Asian Tigers from 1970s to 1990s [South Korea and Taiwan]
Learn more about the world-renowned steelmaker POSCO [Video by Arirang News]
The steel industry in South Korea: A historical background
In the 1960s, the steel industry in South Korea was largely absent. Three decades later, Korea became the world’s sixth-largest steel producing country. This development can be explained by General Park Chung-hee’s aim for Korea to be self-sufficient in steel production.
Steel has been commonly known as the ‘staple of industry‘, in which this versatile metal is highly applicable in many basic industries, such as shipbuilding, construction, machinery and automotive. Hence, its complementary nature further underpinned South Korea’s economic success.
Enter Park Tae-Joon
In 1967, the Korean government picked Pohang as the location for the construction of the first integrated steelworks. The Korea Tungsten Company was selected as the end-user of the integrated steelworks. The president of the Korea Tungsten Company was Park Tae-Joon.
Park Tae-Joon was then appointed to helm the newly-formed Pohang Iron and Steel Company (POSCO) on 1 April 1968. However, POSCO’s developments were not entirely smooth-sailing from the start.
Although the Korean President Park Chung-hee engaged foreign steel companies to form the Korea International Steel Associates (KISA) in 1966, the POSCO leader received confirmation that the securing of loans from KISA was not possible. In response, Park Tae-Joon capitalised on his extensive networks in Japan to find a solution.
In December 1969, the “Korea-Japan Framework Agreement” was signed, granting POSCO the right to sign a technology service contract with Japan Group. Japan Group comprised of three companies (Yawata Steel Works, Nippon-Kokan KK and Fuji Steel Corporation) that offered their technological expertise to facilitate the construction and operation of integrated steelworks in South Korea.
Korea’s economic rise in the 1970s
On 1 April 1970, POSCO launched Phase 1 of its comprehensive construction of the Pohang steelworks at Yeongilman Bay. POSCO’s objectives were aligned with the Korean government’s, in which General Park later put forth the Heavy and Chemical Industrialisation (HCI) Plan in 1973.
Creating domestic capabilities for steel production was a vital step for sustainable economic development, given the changes to American foreign policy in Asia by the early 1970s. The diminished American military presence in Indochina and parts of East Asia made General Park Chung-hee more certain that the formulation of a HCI Plan was the right step to take.
What can we learn from this article?
Consider the following question:
– How far do you agree that the economic transformation of South Korea between 1970 and 1990 was the result of business conglomerates?
Join our JC History Tuition to learn more about the Global Economy and the Asian Tiger economies. The H2 and H1 History Tuition feature online discussion and writing practices to enhance your knowledge application skills. Get useful study notes and clarify your doubts on the subject with the tutor. You can also follow our Telegram Channel to get useful updates.
We have other JC tuition classes, such as JC Math Tuition and JC Chemistry Tuition. For Secondary Tuition, we provide Secondary English Tuition, Secondary Math tuition, Secondary Chemistry Tuition, Social Studies Tuition, Geography, History Tuition and Secondary Economics Tuition. For Primary Tuition, we have Primary English, Math and Science Tuition. Call 9658 5789 to find out more.
Why did Nixon end the Bretton Woods system?
/in Global Economy, History Essays/by Justin NgTopic of Study [For H2 History Students]:
Paper 1: Understanding the Global Economy (1945-2000)
Section B: Essay Writing
Theme II Chapter 1: Problems of economic liberalisation
Historical background
In 1944, an international monetary agreement was signed in 1944 at the Bretton Woods Conference. Under this agreement, foreign currencies were defined in terms of the US dollar (USD). A new system was established in the post-WWII period to replace the Gold Standard that ended in 1993 following the Great Depression.
Under this system, a fixed exchange rate was established, in which one ounce of gold is equivalent to 35 USD.
With support from the International Monetary Fund (IMF), an automatic adjustment helped nations to avoid the onset of deflation, thereby maintaining stable exchange rates. By the late 1950s, key trading nations loosened exchange restrictions to accept the international gold standard.
Dollar shortage & the Gold Pool
Following the Second World War, governments in Western Europe imported US-made machinery and merchandise. Consequently, there was a surge in demand for USD, given that more nations underwent post-war economic reconstruction. During the Presidential polls in August 1960, US Senator John F. Kennedy declared his plan to “get America moving again“, giving rise to a ‘gold rush’.
As a result, the increase in market price of gold in London to $40 sparked fears of an unstable USD-gold parity. As such, a “Gold Pool” was created in November 1961, in which eight central banks agreed to buy and sell gold only at the official price of $35. Seven other central banks agreed to provide half of the gold supply to keep the market price of gold stable.
Overvaluation of the USD: A currency crisis and a gold glut
However, the USA faced problems with the system. In the early 1960s, the USA experienced rising inflation. As a result of inflation, the increase in silver prices made it difficult for the USA to ensure adequate circulation of coins and silver certificates. In response, the Congress repealed the Silver Purchase Act in 1963 and enabled the Federal Reserve to produce notes in $1 and $2 denominations. At the same time, silver certificates were gradually retired, thus freeing up the silver holdings for use as coins.
Yet, inflation persisted. In 1968, the Congress repealed the requirement to hold gold reserves against Federal Reserve notes. This led to the collapse of the “Gold Pool”.
By the late 1960s, the inflationary condition exacerbated by the large spending to finance the ‘Great Society’ and the Vietnam War strained the international monetary system. Although a two-tier gold market was created in March 1968, foreign governments viewed it with much skepticism. Central banks were unwilling to accept USD in settlement.
As a result, US President Richard Nixon ‘closed the gold window‘ in August 1971, thereby disallowing foreign central banks from exchanging USD for the US Treasury’s gold. Notably, Nixon blamed other countries for their reluctance to share the military burden of the Cold War, which in turn contributed to the persistent balance of payments deficit.
What can we learn from this article?
Consider the following question:
– How far do you agree that the problems of the Crisis Decades were the result of American economic policies?
Join our JC History Tuition to learn more about the Global Economy. The H2 and H1 History Tuition feature online discussion and writing practices to enhance your knowledge application skills. Get useful study notes and clarify your doubts on the subject with the tutor. You can also follow our Telegram Channel to get useful updates.
We have other JC tuition classes, such as JC Math Tuition and JC Chemistry Tuition. For Secondary Tuition, we provide Secondary English Tuition, Secondary Math tuition, Secondary Chemistry Tuition, Social Studies Tuition, Geography, History Tuition and Secondary Economics Tuition. For Primary Tuition, we have Primary English, Math and Science Tuition. Call 9658 5789 to find out more.
How did the Gulf states dominate the global oil market?
/in Global Economy, History Essays/by Justin NgTopic of Study [For H2 History Students]:
Paper 1: Understanding the Global Economy (1945-2000)
Section B: Essay Writing
Theme II Chapter 1: Reasons for growth of the global economy; Chapter 2: Reasons for problems of the global economy
The value of ‘Black Gold’: Oil
As the Allied powers concluded the Second World War (WWII) with the help of the USA, the latter recognised the strategic and economic value of oil, given its relevance to enable the continuation of war efforts then.
After the Yalta Conference, US President Franklin Roosevelt met the Saudi King Abdel Aziz on the cruiser USS Quincy on 14 February 1945. The Saudi King agreed to let the USA carry out port visits and build an airfield. At the same time, concession was given to the oil production by the Saudi-American Oil Company (Aramco). Notably, this collaborative relationship continued after WWII.
During the Cold War, the USA rose to prominence by acting as a security guarantor for the six Arab states in the Persian Gulf (Bahrain, Oman, Qatar, Kuwait, Saudi Arabia and the United Arab Emirates). Having a reliable access to oil supply was vital in facilitating post-war economic reconstruction. As such, the USA was a key importer of oil, thereby keeping the Middle Eastern powers relevant.
Jockeying for position: Claiming ownership rights and petrodollars
Before the Organisation of Petroleum Exporting Countries (OPEC) was formed in 1960, the “Seven Sisters” dominated the global oil industry. In 1908, the British discovered oil in western Persia (which later came to be known as Iran). Six years later, the Anglo-Persian Oil Company (APOC) was formed, with the British holding 51% stake in it.
Initially, the OPEC was formed as a result of the Baghdad Conference of September 1960 to ensure stable oil prices in the markets. However, as its membership size grew (15 in the 1970s), the organisation began to challenge the “Seven Sisters”.
In 1968, the regional group similar to OPEC, known as the Organisation of Arab Petroleum Exporting Countries (OAPEC) was formed. Its rising dominance in the oil markets was made known when an oil embargo was imposed against the USA during the Yom Kippur War, thus triggering the Energy Crisis of the 1970s.
What can we learn from this article?
Consider the following question:
– How far do you agree that oil was the most important factor that shaped the global economy in the 20th century?
Join our JC History Tuition to learn more about the Global Economy. The H2 and H1 History Tuition feature online discussion and writing practices to enhance your knowledge application skills. Get useful study notes and clarify your doubts on the subject with the tutor. You can also follow our Telegram Channel to get useful updates.
We have other JC tuition classes, such as JC Math Tuition and JC Chemistry Tuition. For Secondary Tuition, we provide Secondary English Tuition, Secondary Math tuition, Secondary Chemistry Tuition, Social Studies Tuition, Geography, History Tuition and Secondary Economics Tuition. For Primary Tuition, we have Primary English, Math and Science Tuition. Call 9658 5789 to find out more.
What is the peacekeeping role of the United Nations?
/in History Essays, United Nations/by Justin NgTopic of Study [For H1/H2 History Students]:
Paper 1: Safeguarding International Peace and Security
Section B: Essay Writing
Theme III Chapter 2: Political Effectiveness of the UN in maintaining international peace and security
Saving succeeding generations from the scourge of war: The United Nations
On 24 October 1945, an inter-governmental organisation known as the United Nations was established. Barely a month ago, the Second World War came to an end, giving many a stark reminder of the devastation and atrocities that warmongers can cause on others.
Five decades later, the Department of Peace Operations (DPO) was set up, streamlining processes to carry out peacekeeping missions to achieve myriad goals set and authorised by the United Nations Security Council (UNSC).
Defining peacekeeping: Origins
The first peacekeeping mission took place in 1948 when the UNSC authorised the deployment of military observers to the Middle East. In particular, the United Nations Truce Supervision Organisation (UNTSO) was established in May 1948 to monitor ceasefires, supervise armistice agreements and prevent conflicts from threatening the security of Middle Eastern nations.
Notably, peacekeeping became a more ‘organised’ activity for the United Nations in 1956 when its principles were defined by then United Nations Secretary-General Dag Hammarskjöld and Canadian minister Lester B. Pearson. Its principles were put to the test when the United Nations Emergency Force (UNEF) was deployed in response to the Suez Canal Crisis of 1956.
Ever since 1948, more than 70 peacekeeping missions have been undertaken by the United Nations, involving more than 120 countries that contributed hundreds of thousands of personnel. Notably, the UN Operation in the Congo (ONUC) was first large-scale mission that numbered 20,000 of military personnel.
Evolution of peacekeeping
In the post-Cold War phase, the role of United Nations peacekeepers was re-defined to keep the organisation relevant. Initially, the ‘blue helmets’ took on a ‘traditional’ role, which included tasks like monitoring ceasefires. In view of the rise of new challenges posed by intra-state conflicts, peacekeepers took up new responsibilities, like providing humanitarian assistance, monitoring human rights, as well as disarmament and demobilisation of former combatants.
What can we learn from this article?
Consider the following question:
– Assess the view that United Nations peacekeeping was successful ever since its inception.
Join our JC History Tuition to learn more about the United Nations. The H2 and H1 History Tuition feature online discussion and writing practices to enhance your knowledge application skills. Get useful study notes and clarify your doubts on the subject with the tutor. You can also follow our Telegram Channel to get useful updates.
We have other JC tuition classes, such as JC Math Tuition and JC Chemistry Tuition. For Secondary Tuition, we provide Secondary English Tuition, Secondary Math tuition, Secondary Chemistry Tuition, Social Studies Tuition, Geography, History Tuition and Secondary Economics Tuition. For Primary Tuition, we have Primary English, Math and Science Tuition. Call 9658 5789 to find out more.
Why was NEDCOL created?
/in Economic Development, History Essays/by Justin NgTopic of Study [For H2 History Students]:
Paper 2: Economic Development after Independence
Section B: Essay Writing
Theme II Chapter 1: Paths to Economic Development
Historical context: Rise of NEDCOL
After the end of World War Two, Prime Minister Plaek Phibunsongkhram led his government to oversee economic recovery. As a result of economic isolation, Thailand‘s rice trade declined significantly, with the exception of its continued trade efforts with imperial Japan during the war.
As part of its efforts to carry out import-substitution industrialisation (ISI), the Phibun government oversaw the creation of state agencies, such as the National Economic Development Corporation Limited (NEDCOL).
NEDCOL was established in 1954 as a holding company with five manufacturing subsidiaries, namely two sugar mills, a jute mill, marble factory and paper mill. NEDCOL functioned as a guarantor of loans, supporting the growth of Thai and Chinese businesses.
Notably, the government’s share of domestic investment from 32% in 1952 to more than 38% in the period 1953-55, highlighting the key role that direct state investment played in the manufacturing sector.
Political clashes: Phibun vs Sarit
However, NEDCOL did not last as it became bankrupt in 1957. It coincided with the year in which Field Marshall Sarit Thanarat led a coup d’état against Phibun on 16 September 1957. It was revealed that corruption plagued NEDCOL, thus explaining the lack of productive investments.
Picking up the pieces: post-NEDCOL
In the wake of the fallout, the Sarit government had to take over the company. With support from foreign economic advisor, John Alfred Loftus, the government managed to restructure and salvage the factories. As for the debt accumulated by NEDCOL, Loftus was able to renegotiate and extend the debt payment structure.
What can we learn from this article?
Consider the following question:
– How far do you agree that that expertise was most crucial in determining the economic development of Southeast Asian states after independence?
Join our JC History Tuition to learn more about the Paths to Economic Development. The H2 and H1 History Tuition feature online discussion and writing practices to enhance your knowledge application skills. Get useful study notes and clarify your doubts on the subject with the tutor. You can also follow our Telegram Channel to get useful updates.
We have other JC tuition classes, such as JC Math Tuition and JC Chemistry Tuition. For Secondary Tuition, we provide Secondary English Tuition, Secondary Math tuition, Secondary Chemistry Tuition, Social Studies Tuition, Geography, History Tuition and Secondary Economics Tuition. For Primary Tuition, we have Primary English, Math and Science Tuition. Call 9658 5789 to find out more.
How did the Guided Democracy affect the Indonesian Economy?
/in Economic Development, History Essays/by Justin NgTopic of Study [For H2 History Students]:
Paper 2: Economic Development after Independence
Section B: Essay Writing
Theme II Chapter 1: Paths to Economic Development
Historical context: Power Struggle
On 21 February 1957, President Sukarno delivered a speech, which claimed that Western parliamentary democracy was the root cause of political crises in Indonesia. As such, he proposed a change to the political system that will unify the Indonesian people. This was termed the ‘Guided Democracy‘.
A month later, the cabinet of Ali Sastroamidjojo fell apart. Subsequently, it was replaced by an extra-parliamentary party of experts handpicked by Sukarno. The President made thorough attempts to quell the regional rebellions and consolidate power, with Major General Nasution leading the charge. Over the next two years, the Indonesian Army defeated the rebellions in Sumatra and Sulawesi. The 1945 Constitution made a comeback in July 1959. In March 1960, Sukarno dismissed the members of parliament and appointed a new body to back his economic policies.
Progress or Regress?
Between 1957 and 1965, Gross Domestic Product (GDP) growth was comparatively lower than the period of 1950 to 1957, suggesting that the Guided Democracy had created more problems for the Indonesian economy. According to the Central Bureau of Statistics, the average annual growth of net national product was about 1.7% per annum. Given that population growth rate averaged 2% per annum, it meant there was declining per capita income.
One such observation can be made in the agricultural sector. The government made efforts to promote the use of new technologies to raise rice production, but to no avail. In 1959, a three-year rice production programme was launched.
Enter the New Order
By the end of Sukarno’s Guided Democracy, Indonesia experienced hyperinflation and severe poverty. Following the ’30 September’ incident in 1965, General Suharto led the KOSTRAD against the Communist Party of Indonesia (PKI). Sukarno was then discredited, such that he transferred power to Suharto in March 1966. This enabled Suharto to implement policies to achieve economic stabilisation in the late 1960s, ushering the start of the New Order.
What can we learn from this article?
Consider the following question:
– How far do you agree that the development of the Indonesian economy was largely shaped by politics than economics under the Guided Democracy?
Join our JC History Tuition to learn more about the Paths to Economic Development. The H2 and H1 History Tuition feature online discussion and writing practices to enhance your knowledge application skills. Get useful study notes and clarify your doubts on the subject with the tutor. You can also follow our Telegram Channel to get useful updates.
We have other JC tuition classes, such as JC Math Tuition and JC Chemistry Tuition. For Secondary Tuition, we provide Secondary English Tuition, Secondary Math tuition, Secondary Chemistry Tuition, Social Studies Tuition, Geography, History Tuition and Secondary Economics Tuition. For Primary Tuition, we have Primary English, Math and Science Tuition. Call 9658 5789 to find out more.
Golden Age of Capitalism: Revisited
/in Global Economy, History Essays/by Justin NgTopic of Study [For H2 History Students]:
Paper 1: Understanding the Global Economy (1945-2000)
Section B: Essay Writing
Theme II Chapter 1: Reasons for growth of the global economy
A remarkable phase for the world economy: The Golden Age
Initially, the economic conditions were dire. Critical infrastructure, such as factories, schools and hospitals, were destroyed by bombing campaigns. People starved as food was scarce. Unemployment rates were high, giving rise to strikes in parts of Europe. Governments were in need of monetary assistance to begin their post-war recovery efforts.
Against the Cold War backdrop, the USA stepped up and offered financial aid (e.g. Marshall Plan) to countries affected by WWII. While its financial support to countries was mainly for economic recovery, the USA also capitalised on its economic might to counter the encroaching influence of the Communists led by the Soviet Union.
Between 1945 and 1973, the global economy grew rapidly. Many countries achieved pre-war industrial levels by the 1950s. In addition, the advent of international trade accelerated growth of the world economy.
Keep moving: The rise of automobiles
During the ‘Golden Age’, many American households reaped the benefits of post-war economic advancements. It became a norm for each household to own an automobile. Interestingly, Elvis Presley purchased a pink Cadillac in 1955. The Cadillac represented pinnacle of American automobile production.
The OECD: Club of the Rich?
On 30 September 1961, the Organisation for Economic Co-operation and Development (OECD) was formed with the aim to promote economic progress and world trade. OECD members were considered advanced economies that occupied most of the world’s Gross Domestic Product (GDP).
However, the growth of the global economy was not entirely smooth sailing. As the post-war allies of the USA recovered, notably West Germany and Japan, the open markets had intensified trade competition. These growing economies then challenged the economic supremacy of the USA in the 1960s.
What can we learn from this article?
Consider the following question:
– Assess the view that the first three decades after the Second World War was truly a ‘Golden Age of Capitalism’.
Join our JC History Tuition to learn more about the Global Economy. The H2 and H1 History Tuition feature online discussion and writing practices to enhance your knowledge application skills. Get useful study notes and clarify your doubts on the subject with the tutor. You can also follow our Telegram Channel to get useful updates.
We have other JC tuition classes, such as JC Math Tuition and JC Chemistry Tuition. For Secondary Tuition, we provide Secondary English Tuition, Secondary Math tuition, Secondary Chemistry Tuition, Social Studies Tuition, Geography, History Tuition and Secondary Economics Tuition. For Primary Tuition, we have Primary English, Math and Science Tuition. Call 9658 5789 to find out more.
What is the Monnet Plan?
/in Global Economy, History Essays/by Justin NgTopic of Study [For H2 History Students]:
Paper 1: Understanding the Global Economy (1945-2000)
Section B: Essay Writing
Theme II Chapter 1: Reasons for growth of the global economy
A historical background of the Trente Glorieuses: The French economic miracle
By the end of World War Two, France was badly devastated. Infrastructure such as bridges and railways were destroyed. Industrial output was at 44% of pre-war level. The French had to rely on rationing. Given the urgent need for post-war economic recovery, Charles de Gaulle formed the General Planning Commission on 3 January 1946.
This Commission aimed to raise productivity, improve living standards, restore national production and increase employment. Key sectors were being identified and targeted, namely coal mining, steel, rail transport, electricity, farm machinery and cement. Subsequently, other sectors were included in the Plan, such as fertilisers, oil, shipbuilding and chemicals.
Enter Jean Monnet, who was later known as the ‘Father of Europe’. Monnet was appointed the Commissioner of the French Plan Commission. He came up with the ‘Modernisation and Re-equipment Plan’, which was more commonly known as the ‘Monnet Plan‘.
A giant leap for France: The Monnet Plan
The Plan aimed to restore France’s production levels to pre-war standards. For instance, Monnet aimed to restore output level that of 1929 by 1948. Notably, the Monnet Plan was not simply a plan to modernise France and bring it back on its feet economically. In addition, the Plan was meant to shape the minds of the French.
The Monnet Plan was integral in accelerating steel production in France. The Monnet Plan aimed to attain an output of 15 million tonnes of steel, which exceeded the peak level in 1929. This ambitious target was to increase France’s international competitiveness, particularly against Germany. In other words, increased French steel exports should replace German steel exports.
Between 1951 and 1973, France’s growth averaged 5.4% per annum. Compared to West Germany, its economic growth rate was considerably high, thus explaining why its thirty years after World War Two were termed as the ‘Glorious Thirties‘.
What can we learn from this article?
Consider the following question:
– How far do you agree that the post-war reconstruction of Europe can be explained by American aid?
Join our JC History Tuition to learn more about the Global Economy. The H2 and H1 History Tuition feature online discussion and writing practices to enhance your knowledge application skills. Get useful study notes and clarify your doubts on the subject with the tutor. You can also follow our Telegram Channel to get useful updates.
We have other JC tuition classes, such as JC Math Tuition and JC Chemistry Tuition. For Secondary Tuition, we provide Secondary English Tuition, Secondary Math tuition, Secondary Chemistry Tuition, Social Studies Tuition, Geography, History Tuition and Secondary Economics Tuition. For Primary Tuition, we have Primary English, Math and Science Tuition. Call 9658 5789 to find out more.
Who is U Thant?
/in History Essays, United Nations/by Justin NgTopic of Study [For H1/H2 History Students]:
Paper 1: Safeguarding International Peace and Security
Section B: Essay Writing
Theme III Chapter 2: Political Effectiveness of the UN in maintaining international peace and security
Background
U Thant (သန့်) was appointed Secretary-General of the United Nations on 30 November 1961. It was six weeks after the distinguished Dag Hammarskjöld died in an air crash. U Thant was the first non-European Secretary-General. He served for two terms that eventually ended on 31 December 1971.
U Thant led diplomatic efforts in the different missions, such as the ongoing Congo Crisis in Sub-Saharan Africa, the protracted Arab-Israeli War in the Middle East and the Vietnam War in Indochina.
U Thant’s Diplomacy
During the Cuban Missile Crisis, U Thant helped to pass messages between American and Soviet leaders, Kennedy and Khrushchev, averting a nuclear confrontation. U Thant also visited the Cuban leader Fidel Castro to oversee the smooth removal of missiles.
However, U Thant’s efforts were hindered by the United States. During the Vietnam War, he tried to mediate by arranging peace talks between Washington and Hanoi, but the Johnson administration rejected his proposals. The US Secretary of State Dean Rusk objected to U Thant’s ceasefire and peace talks in Rangoon. Rusk alleged that U Thant’s enthusiasm in facilitating peace talks was influenced by his desire to claim the Nobel Peace Prize.
According to Sir Brian Urquhart, there was a stark contrast between the personality of U Thant and his predecessor Hammarskjöld. U Thant was viewed as a “simple and direct” individual who spoke few words, whereas Hammarskjöld was much more articulate.
What can we learn from this article?
Consider the following question:
– How far do you agree that U Thant was effective in performing his duties as the United Nations Secretary-General in the 1960s?
Join our JC History Tuition to learn more about the United Nations. The H2 and H1 History Tuition feature online discussion and writing practices to enhance your knowledge application skills. Get useful study notes and clarify your doubts on the subject with the tutor. You can also follow our Telegram Channel to get useful updates.
We have other JC tuition classes, such as JC Math Tuition and JC Chemistry Tuition. For Secondary Tuition, we provide Secondary English Tuition, Secondary Math tuition, Secondary Chemistry Tuition, Social Studies Tuition, Geography, History Tuition and Secondary Economics Tuition. For Primary Tuition, we have Primary English, Math and Science Tuition. Call 9658 5789 to find out more.
How did the UN support decolonisation?
/in History Essays, United Nations/by Justin NgTopic of Study [For H1/H2 History Students]:
Paper 1: Safeguarding International Peace and Security
Section B: Essay Writing
Theme III Chapter 2: Political Effectiveness of the UN in maintaining international peace and security
Historical context
After World War Two, Third World colonies in the Africa and Asia went through decolonisation. However, not all member states of the United Nations were supportive of decolonisation, particularly those that were former colonial powers. In the early 1950s, Indonesia raised its concerns over West Irian, which was still controlled by the Netherlands.
Furthermore, the Cold War rivalry has hindered efforts at international cooperation. Although the USA has always been a strong advocate of decolonisation, its British ally convinced it not to express support for this process in the United Nations General Assembly (UNGA).
Resolution 1514
During the fifteenth session of the UNGA, member states were called upon to vote for the independence of countries and end of colonial rule. Notably, the USA abstained, whereas the Soviet Union supported the draft resolution. In total, 89 voted for the resolution, whereas 9 abstained.
As a result, UNGA Resolution 1514 (XV) was passed, which was known as the Declaration on the Granting of Independence to Colonial Countries and Peoples.
What can we learn from this article?
Consider the following question:
– In view of Third World decolonisation, assess the challenges to the political effectiveness of the United Nations General Assembly.
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