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Exploration and Conquest European Explorers Starting in the 1400s, waves of European captains set out to explore the world. The primary goals behind this exploration were primarily: Gain economic wealth Find/develop trade routes to the East Indies (China and the Far East) Conquer new territories for nature resources and markets Spread the Christian Religion Intellectual Curiosity Adventure

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A Brief Economic History of North America! Sections: 1. Exploration and Conquest (up to 1400s +/-) 2. Colonization and Exploitation (1400s to 1770s) 3. Revolution and New Government (1770s to the late 1700s) 4. US Expansion (late 1700s to 1850s) 5. Civil War (1850s to 1880s) 6. Development of the Nation (1800s to 1920s) 7. Venturing Abroad (1880s to 1920s) 8. Looking Inward (1920s to 1940s) 9. Super Power and Beyond (1940s to Present) A Brief Economic History of North America! This is Not a history class! Why are we studying this? You are correct. This is not a history class, but many of the economic issues we will discuss in this class have been substantially impacted by what has happened from a historical perspective. Examples: Why are there 3 primary languages spoken in N.America? Why were there great difficulties in creating NAFTA from a legal perspective? Why are the 3 countries substantially different in terms of economic development? Etc. The following slides and lecture will provide a VERY brief history of the North American continent. It will focus on many broad themes encountered when exploring the economic history of the region and will eventually lead up to how they impact todays current business environment. Exploration and Conquest European Explorers Starting in the 1400s, waves of European captains set out to explore the world. The primary goals behind this exploration were primarily: Gain economic wealth Find/develop trade routes to the East Indies (China and the Far East) Conquer new territories for nature resources and markets Spread the Christian Religion Intellectual Curiosity Adventure Exploration and Conquest European Explorers/Conquerers Spanish: Columbus (1492 +) Cortez (1519) Pizarro (1532) French: Jacques Cartier (1530s) English: John Cabot (late 1400s) Sir Walter Raleigh (1584) Russian: Vitus Bering (1729) Colonization and Exploitation Spanish / French / English SpanishFrenchEnglish Brought Mexico, current US South and SW under control Starting in 1541, France began to colonizing North America with forts and trading posts. Starting in 1585, England established 13 primary colonies on the eastern seaboard. Ecomienda system with Indian labor digging mineral wealth from the ground to ship back to Spain The colonies were developed to export products such as fish, sugar, and furs. Economic value: - Major source of raw materials - Forced market for English goods and a tax base Colonization and Exploitation European Wars Impact the New World European powers had many armed conflicts in the late 1600s to the 1800s. These conflicts, although started in Europe, often spilled over into the New World. The principle conflicts are known as the French and Indian Wars. These conflicts were a series of 4 wars fought between 1688 and 1815 by the expanding French and British colonies as they contended for control of the western, or interior, territories. These conflicts ultimately decided the control of French possessions in North America. The English, through capture of Montreal in 1760, took most of French Canada. This weakened Frances control on the rest of their possessions in North America, eventually leading to their purchase by the United States. Colonization and Exploitation Other Economic Issues Economic Base: Canadian and New England Colonies Shipbuilding / Fishing / Lumber / Farming / Furs Mid Atlantic Colonies Shipbuilding / Farming / Trading Southern Colonies Cash Crops (Tobacco, Rice, Indigo) Mexico Gold, silver -These goods are then shipped to their home countries in exchange for manufactured goods. Labor: -Although most of the labor in Northern N.Am. Came from settlers, many were indentured servants or slaves. Colonization and Exploitation Other Economic Issues Triangular Trade Route - Fueled the growth of slavery in the Americas and provided much needed labor. Slave traders brought Africans to the Americas Rum and sugar cane from the Americas went to Europe Sales of these products provided money to European slave traders to capture and transport more Africans to the Americas. Revolution and New Govt. War with France Effects Although the French and Indian War provided increased British control over the New World, it also started the process for the new American colonies to revolt. Gave the colonies a chance to unite against a common enemy. Provided colonies opportunities to increase ties. Left large numbers of British troops in America. The war was Extremely costly for the British and caused them to impose many taxes on the colonies to recoup their expenses. This issue proved to be the key that caused the revolt. Revolution and New Govt. What were points of conflict? Illegal Search Warrants Sugar Act in 1764 Quartering Act in 1765 Stamp Act in 1765 ` Primary Conflict Areas required colonists to house soldiers in their homes and provide them with supplies tax on sugar, molasses, and other imported goods Required all legal and commercial documents to carry an official stamp showing that a tax had been paid Allowed entrance to homes or businesses to search for smuggled goods Other taxes were also levied, further angering colonists. Revolution and New Govt. Colonial Response to Taxes Due to the increasing amounts of taxes, colonists began to boycott British goods and anti-British sentiments ran high. Events, such as the Boston Massacre (1770) or the Boston Tea Party (1773), began to occur as the colonists started resenting and resisting against British rule. The Boston Tea Party was a case where the British crown granted the East Indies Trading company an exclusive monopoly on the American market. Due to increased prices and taxes relating to this market, the colonists struck back through boycotts and violence. Revolution and New Govt. The Next Step The crown further increased pressure to force obedience. First Continental Congress (1774) Called for each colony to begin training troops. Voted to ban all trade with Britain until the Intolerable Acts ended. Planted the seed for a future independent government. The Shot Heard Round the World (1775) British tried to disrupt colonial militarization in Concord, MA and were repulsed. Seen as the first real battle of the War for Independence. Declaration of Independence (1776) - Thomas Jefferson We hold these Truths to be self- evident that all Men are created equal, that they are endowed by their Creator with certain unalienable Rights, that among these are Life, Liberty, and the Pursuit of Happiness Revolution and New Govt. WAR!!! The Revolutionary War (USA name) or the American Revolt (British name) was fought between 4/19/1775 to 10/17/1781 (or 9/1783 for the final treaty. Negative: 1/3 of the people didnt want a war and 1/3 were neutral. Each colonies was loyal to itself, not to the USA No central govt. to raise money for war efforts Started with no formal, trained army. Positive: Colonies received assistance from France, the Netherlands and Spain Home court advantage War of attrition and distance Revolution and New Govt. Aftermath The war left the new nation with some problems. The Revolution had cost a lot of money, and Congress had borrowed from foreign sources and American citizens. Now the money needed to be repaid. Setting up a central government to deal with debt and other national issues was going to be complicated. The Continental Congress would meet many times to discuss economic issues and a new system of government. This new central government would prove to be a struggle between Federalists (those favoring a strong central government) and Anti- Federalists (those favoring a system based on stronger state governments) The Federalists, led by Adams & Hamilton, believed in a strong national government and industrial economy and were supported by bankers and business interests in the Northeast. The Democratic Republicans, led by Thomas Jefferson, believed in a weaker national government and an agricultural economy. They were supported by farmers, artisans, and frontier settlers in the South. Revolution and New Govt. Aftermath The US Constitution was finally passed in 1787 and was followed by the Bill of Rights in The Constitution was the official framework upon which the government was built, ie. the balancing of the Executive, Legislative and Judicial governmental branches, etc. The Bill of Rights guaranteed the basic liberties of American citizens, ie. freedom of speech, press, religion, etc. as well as no taxation without representation. Revolution and New Govt. Economic Implications Exports and ImportsWholesale Price Index American Exports, To & From Britain: Revolution and New Govt. Beginnings of the National Debt The first Secretary of the Treasury, Alexander Hamilton, pushed for the new nation to borrow money. He thought that the war debts must be paid off to establish good credit and faith in our new government, plus, it was to enforce strong ties between all the states by jointly owing money. He also believed that govt. needs the support of the business people to remain strong. His report to the President on the proposal to establish a national bank included the following message on business in America: Industry is increased, commodities are multiplied, agriculture and manufacturers flourish: and herein consists the true wealth and prosperity of a state. * Report on a National Bank, Dec. 13, 1790 US Expansion Moving West There had been a lot of pressure on the colonies and then the new USA to expand. Settlers wanted more and more land to settle, this led to land purchases by the US. The first purchase was the Louisiana territory owned by France. US Expansion Southern Expansion The next expansion came with the military acquisition of Florida from Spain in In 1836, Texas had won it freedom from Mexico and had voted to become part of the US in The US Army won a short war with Mexico when it tried to reclaim the territory. Further territory was purchased in 1853 for its mining and railroad uses. US Expansion US, UK and Russia More territory was acquired or ceded by the UK (Canada) and Russia to make up the current borders. With this expansion, there were no other lands to move into. This completion caused a number of issues. Westward Expansion Early 1800s Trends US Westward Expansion Encouraging Factors Canals Railroads Economic Development Manufacturing Capability Developed in the North Steam / Water Power Technology Improvement interchangeable parts, etc. Farming Technology in the South Cotton Gin (invented by Eli Whitney in 1793) Westward Expansion Canada During this period, Canada also began a movement of westward expansion. Immigration greatly increased from the UK and the new settlers began to spread across the country. However, during this time, there was also an immigration movement out of Canada to the US, especially amongst French Canadians. Civil War Causes Leading to the Civil War Primary Causes from an economic standpoint Economic/Production Basis Opposite Ends of the Spectrum Manufacturing vs. Agriculture Paid vs. Unpaid Labor Economic (and Political) Balance of the North vs. the South Trade vs. Trade Barriers Civil War Causes Leading to the Civil War Economic/Production Basis Opposite Ends of the Spectrum Manufacturing vs. Agriculture North Major manufacturing of consumer, military and other goods South Cash Crop Orientation Paid vs. Unpaid Labor North - Paid Labor South Slavery widespread 25% of the citizens owned slaves 4 million total Negros Not enough whites to work Civil War Causes Leading to the Civil War Economic (and Political) Balance of the North vs. the South Trade vs. Trade Barriers North Created tariffs to protect and encourage domestic manufacturing Not import/export oriented Enough power to create tariffs (19 free states / 15 slave states originally, the N/S had been balanced, but with the additional states entering the union, imbalance occurred.) South Received reciprocal tariffs from other countries in the export of their goods Completely import/export oriented Difficult to create more slave states to balance Northern political power Civil War N vs. S Industrialization Rail Lines Civil War N vs. S Industrialization Civil War War Starts The Civil War started in 1861 and ended in In this time, there were 865,000 casualties (dead and wounded) total from both sides. This was the bloodiest conflict that the United States has ever faced. The war began with the secession of the Southern states from the Union. President Lincoln fought to restore the union (not end slavery). Civil War Troubles South of the Border During the course of the US Civil War, Mexico also experienced war. In 1862, France invaded under the pretense of collecting unpaid debt. Mexican patriots successfully fought off the French armies under Ferdinand Maximilian Joseph of Austria and finally regained independence in Mexico then went through several leaders to be governed by President Diaz who held power through approx before another revolution threw him out of power. Under Diaz, Mexicos infrastructure improved greatly but social inequities caused major problems within the country. Development of the Nation Inventions / Advances The US (and Canadian/Mexican) began to quickly industrialize in what is known as the 2 nd Industrial Revolution. Several breakthroughs greatly assisted. Bessemer process for making steel. (1850s) Cheap steel for railroads, machinery, etc. Refinement of oil (1850s) Replaced whale oil with kerosene, created gasoline, etc. Harnessing of electricity (1879) Telegraph and Telephone (1850s and 1876 respectively) Automobiles US built its first gas powered car in 1893 Airplanes (1903) The rise of corporations and powerful business leaders led to the dominance of big business in the United States. Many entrepreneurs formed their businesses in the late 1800s as corporations. Corporations encouraged more investment in businesses because stockholders could sell stock whenever they wanted. This led to a Huge and rapid growth of business in America. Canada soon followed America to a lesser extent. Big Business in Mexico was constantly hampered by inefficiency, non-rule of law, govt. nationalization of companies, etc. Development of the Nation Big Business People and the government began to view big business as a problem in the late 1800s. Concerned about child labor, low wages, and poor working conditions Development of the Nation Labor Movement Ideas Critics said many businesses earned their fortunes through unfair business practices. Used size and strength to drive smaller competitors out of business Powerful trusts sold goods and services below market value until smaller competitors went out of business, then raised prices. Some people were concerned when a trust gained a monopoly, or total ownership of a product or service. The Sherman Antitrust Act passed in 1890 made it illegal to create monopolies or trusts that restrained trade. The act did not clearly define a trust in legal terms, so it was hard to enforce. Corporations and trusts continued to grow in size and power. Development of the Nation Anti Trust Movement Development of the Nation Transportation Systems All three countries had a very similar progression for their transportation systems. However, all 3 progressed at different rates. System Progression Stage Coach Rail Roads Roads Pacific Railroad Act, 1862 Authorized a route from Omaha, Nebraska, to San Francisco, California. Building the railroad could not have been possible w/out the substantial land grants from the US govt to the railroad companies Land grants financed construction. Allowed homesteaders to claim 160 acres (about 200,000 pyeong) of land free if they lived and worked on it for 5 years. Companies received 120km right of way => 60 km on either side of the rail line Value of this land increased w/the coming of the railway b/se it was close to the line 1920: peak of railroad construction w/420,000 km of track Automobiles 1900: 8,000 automobiles in the US 1920: 8 million cars, 1 million trucks 1904: rural roads were dirt tracks 1924: 750,000 km of rural highways w/paved surfaces Venturing Abroad Trade and Muscle Asian Policy China European powers gained spheres of influence in China and the United States feared it would be shut out of the valuable China trade. Increased foreign presence in China led to the Boxer Rebellion in 1900 and the US contributed troops to help. Japan Commodore Matthew Perry brought four steamships into Tokyo Bay in 1853 to pressure Japan to open its ports to trade. Tactic was known as Gunboat Diplomacy. Korea Similar to Japanese opening tactic. Venturing Abroad Spanish American War The US and Spanish fought on 2 fronts: Caribbean Philippines Decisively defeating Spain in both areas, the US took over the areas (as well as Guam) and governed them for varying periods of time before letting the people declare independence and forming their own pro-US countries. Annexing the Philippines Controversy raged in the United States over whether to annex the Philippines. For Annexation Believed the United States had a duty to spread its values overseas. Philippines had economic and strategic value that should not fall into the hands of other countries. Against Annexation Believed annexation would violate the ideal of self- government Did not want oppression to occur; The United States should not export racism and violence Some Americans believed annexation would increase immigration to the United States. The US did annex the Philippines. Several years later, they were fighting Filipino rebels. Full independence was giving in 1944. Venturing Abroad Central America The US had long claimed that the Western Hemisphere was off-limits to Foreign Powers. Monroe Doctrine was an early declaration in However, until the late 1800s, the US was too weak to force European countries to stay out. Post civil war, the US gained the strength and will to use their new power. Reasons for creation: Keep Europe out of the Western hemisphere Reserve area for US commercial and political interests Roosevelts motto: "Speak softly and carry a big stick, and you will go far. Venturing Abroad Central America The US began an interventionist policy to protect US political and commercial interests in central America. The US invaded many countries in the area, from Mexico, Haiti, Nicaragua, Honduras, etc. Sometimes on the request of the home govt., ie. Panama Sometimes on the request of US business interests, ie. Guatemala (United Fruit now Chiquita) Venturing Abroad Panama Canal Another extension of American military and economic might was the building of the Panama Canal. In 1902, the US purchased the right to build the canal from the French and went on to support the new Panamanian government against rebel troops. For their help, they were given a lease for the Panama canal. Took from 1904 to Allows trade and military vessels much quicker travel between the Atlantic and Pacific oceans. Venturing Abroad WWI World War I was an important time period in US and Canadian history that must be mentioned. Although the main points, as they relate to N.America, are not primarily business related, they still have a large degree of economic meaning. When the great powers of Europe went to war in 1914, the US wanted to remain neutral although they did have greater support for England and France due to historical and business ties. Canada, however, began shipping volunteer troops early. Venturing Abroad WWI Despite remaining neutral for some time, the US finally entered the war for 2 reasons: U-Boats sinking of US passenger and merchant ships Zimmerman note where Germany proposed an allience with Mexico and requested them to attack the USA. Mexico declined. In 1917, the US began raising an army. Both the US and Canadian troops fought with distinction until the war ended in 1918. Loans and Liberty Bonds Wilson sparked an intense campaign to sell Liberty Bonds. They were a form of loan to the government from American people. The national debt grew from $1.2 billion to $25.5 billion in three years. Mobilizing the Economy Regulating Industry Congress created administrative boards to prepare industries for war. The War Industries Board (WIB) regulated all war materials. Industrial production increased by 20 percent. Food and fuel were also regulated. Going to war was extremely expensive, and President Wilson needed to find ways to pay for it. Taxes Congress passed the War Revenue Act of 1917, which established very high taxes. It taxed wealthy Americans up to 77 percent of their incomes. It increased federal revenue by 400 percent within two years. Mobilizing Workers During the war, the profits of many major industrial companies skyrocketed because companies sold to the federal government. This created enormous profits for stockholders of industries like steel, oil, and chemicals. Factory wages also increased, but the rising cost of food and housing meant that workers were not much better off. War demands also led to laborers working long hours in increasingly dangerous conditions in order to produce the needed materials on time and faster than other companies. These harsher conditions led many workers to join labor unions. Union membership increased by about 60 percent between 1916 and 1919, and unions boomed as well, with more than 6,000 strikes held during the war. Looking Inward Before the Collapse The Roaring 20s were a period of great social and economic change in the US. Women sought more rights. Urbanization First time that there were more Americans in cities than on farms. Many negros migrated to northern cities. Prohibition Business prospered Rise of radio and movies The Appearance of Prosperity Strong Economy Between 1922 and 1928 the U.S. gross national product, or total value of all goods and services, rose 40 percent. Though farmers and some other workers didnt benefit, the overall economy performed well, especially for automakers and those who made auto parts. Overall unemployment remained low, averaging around five percent between 1923 and Union membership slowed as employers expanded welfare capitalism programs, or employee benefits. This feeling of prosperity encouraged workers to buy new products and enjoy leisure activities such as movies. Strong Stock Market The stock market, where people buy stocks, or shares, in companies, performed very well in the 1920s, with stock values sharply increasing each month. The value of stocks traded quadrupled over nine years. The steep rise in stock prices made people think the market would never drop, and more ordinary Americans bought stocks than ever before. The number of shares traded rose from 318 million in 1920 to over 1 billion in Business leaders said everyone could get rich from stocks. Looking Inward Unseen Trouble Looking Inward The Crash October, 1929: Rumors began to circulate. Thursday, October 24, 1929: Panicked selling causes huge sell-off to occur Friday, October 25, 1929: Leading bankers join to buy shares and stop a collapse. But on Monday the market sank again, and Black Tuesday, October 29, was the worst day, affecting stocks of even solid companies. In those short days, overall company market value fell by 50%. Losses The loss from the crash was unbelievable: 12 million people went out of work, 12,000 people was made unemployed everyday, 20,000 companies and 1616 banks had gone bankrupt, and 23,000 people committed suicide in one year the highest ever. The total loss by the end of the next week amounted to $30 million dollars, ten times more than the annual budget of the federal government, far more than the U.S. had spent in all of World War 1. Contributing to The Great Depression. Looking Inward Crash Effects Individuals: Most the stock they held is now worthless. Banks: Many people were worried about their money so they withdrew it from banks en mass. Causing banks to fail. Some banks also failed due to their stock market investments. Businesses: Banks would not lend money so no new investment. People were not spending so people were laid off. Now people have even Less money to spend. Looking Inward Crash Effects International Trade: The fragile economies of Europe were still struggling from World War I. They had borrowed a great deal of money from American banks that the banks now wanted back. With U.S. buying power down, foreign businesses were less able to export their products and were forced to fire workers so they were less inclined to buy US exports. Governments tried to protect themselves by passing high tariffs, making foreign goods expensive. Due to this, the export market began drying up thus making the situation even worse. The Act One of Hoovers major efforts to address the economic crisis was the 1930 Smoot-Hawley Tariff Act. Tariffs are taxes on imported goods that raise their cost, making it more likely that American purchasers buy cheaper American goods. The Smoot-Hawley Tariff Act was a disaster. Originally designed to help farmers, it was expanded to include a large number of manufactured goods. The high tariff rates were unprecedented. When European nations responded with tariffs on American goods, international trade fell dramatically. By 1934 trade was down two thirds from its 1929 level. The Smoot-Hawley Tariff Act The Effects Looking Inward Great Depression Beginning with the stock market crashes, the US economy sank. Many were effected: Farmers: Demand went down and so did crop prices. Hundreds of thousands of bankruptcies and foreclosures. Workers: Unemployment averaged 25% Relief Millions of Americans enjoyed some form of help. Direct relief or jobs that provided a steady paycheck Programs such as Social Security and unemployment insurance became a fixture of government. Recovery Not as successful at economic recovery Unemployment remained high. Some critics argued that Roosevelt needed the support of big business. Other critics said that the New Deal didnt spend enough money. The Impact of the New Deal Reform More successful and long-lasting FDIC restored public confidence in the nations banks. SEC restored public confidence in stock markets. New Deal left thousands of roadways, bridges, dams, public buildings, and works of art. Franklin Delano Roosevelt was elected President and implemented 2 plans that are called the New Deal The Impact of the New Deal The New Deal promised relief, recovery, and reform. Relief programs put billions of dollars into the pockets of poor Americans. The New Deal was less successful in delivering economic recovery. New Deal reforms were successful and long-lasting. The New Deal changed the link between the American people and their government. Roosevelt believed that government could help businesses and individuals achieve a greater level of economic security. The New Deal required a much bigger government. Americans now began to look regularly to government for help. Superpower and Beyond Interesting Times... A song by Billy Joel recounts much of what we will discuss in this section. Superpower and Beyond Trying to Stay Out! Hostilities were erupting in Europe again and N. American nations tried to maintain their neutrality. People even turned against the League of Nations as they felt that it would drag them into another war. Even a new trade policy was even implemented... Congress changed the neutrality laws to a new policy called cash-and-carry. Countries at war could buy American goods if they paid cash and picked up their goods at American ports. Superpower and Beyond Troubles with Japan America was finally pulled into the war in 1941 as the result of an attack on Hawaii by the Japanese navy. Afterward, the US declared war on Japan, Germany and Italy. American Industry and Science in World War II Troops needed proper equipment to fight World War II. Factories that produced consumer goods were converted to the production of military supplies. Roosevelt called for the production of new planes and tanks. War supplies had to be shipped overseas. Submarines took a terrible toll on American shipping. American shipyards turned out thousands of new vessels to replace those lost during the war using assembly-line techniques. Wartime agencies regulated what factories produced, what prices they could charge, and how the nations raw materials could be used. Mobilizing Industry and Science Many workers joined labor unions and the government was concerned about strikes. The National War Labor Board was established in 1941 to help settle labor disputes. The Smith-Connally Act passed in Rosie the Riveter Factories needed workers at the same time men were leaving to join the armed forces. Women solved the problem. Millions began to work outside the home in industrial jobs. Working women of the war were represented by the symbolic figure known as Rosie the Riveter. Labor in WW II The Manhattan Project began a top-secret mission to build an atomic bomb. Physicist J. Robert Oppenheimer and other American scientists raced to develop this weapon ahead of the Germans. Mobilizing Science United Nations Representatives from 50 countries met to form a new organization, the United Nations. The UN was meant to encourage cooperation among nations and to prevent wars. Potsdam Conference Allied leaders met in the German city of Potsdam to discuss the spread of communism and Soviet influence in the postwar world. Truman hoped to get Stalin to live up to his promises from Yalta. Stalin did not do this. Challenges after the War Rebuilding MacArthur led efforts to help Japan rebuild its government and economy. Seven Japanese leaders were tried for war crimes. Rebuilding Europe caused tensions between the U.S and the Soviet Union. Marshall Plan 1947: Massive aid package to help war-torn Europe recover from the war Purpose: prevent communism from spreading into economically devastated regions Result: Western and Central Europe recovered economically -- the "economic miracle" Soviets refused to allow U.S. aid to countries in eastern Europe Cold War? The tension and rivalry between the USA and the USSR was described as the Cold War ( ). There was never a real war between the two sides between 1945 and 1990, but they were often very close to war (Hotspots). Both sides got involved in other conflicts in the world to either stop the spread of communism (USA) or help the spread (USSR). Superpower and Beyond Cold War Hotspots Clockwise: Korea Cuba Afghanistan Berlin Wall Vietnam Economic Miracles Causes: Marshall Plan aid helped western Europe begin recovery in 1947 Korean War in 1950 stimulated economic activity. Economic growth became a basic objective of all western European governments. Governments accepted Keynesian economics to stimulate their economies. Germany and France were especially successful and influential. In most countries many people willing to work hard for low wages; expanding industries benefited. Increased demand for consumer goods. Many economic barriers eliminated and a large unified market emerged: Common Market. 1970s Major Trends Energy OPEC formation Oil Shocks (1973, 1979) Intl. Economic Cooperation Bretton Woods system (rules intl. commercial and financials relations, currency pricing, etc.) Stagflation Growth of Technology 1980s Major Trends USA Trade Worldwide Liberalization Multinationals Grow Growth of Japanese Imports Canada Quebec Referendum Independence! (1982) Mexico Zapatistas Glasnost! 1990s Major Trends USA Trade Grew NAFTA GATT and WTO Formation Energy Cheap Oil General Economy DOW skyrocketing Canada Growth of Quebec Separatism Mexico Zapatistas 2000s Major Trends USA ? Canada ? Mexico ?