Colonialism During The Cold War

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Cruising on the ship of "Age of discovery" colonialism anchored the less fortunate lands, it was high time when Europeans greed for land and raw materials increased. History is embedded with the tales of various tyrants who invaded foreign lands to inculcate their profits and powers. The colonialism of the 15th century was not anything new. Traditions of; waging wars, plundering other countries and depriving people of their rights were revived, but this time invasion came prancing in the disguise of "Progress". Although, seizure of World War II baptized progress as the "development", nonetheless, it resulted in the division of the world. The wounds of imbalances in power and riches, that were concussed during the era of colonialism, were …show more content…

After the great fall of All mighty colonizers, the world was divided into three parts; First World -The Capitalists, Second World- The Communist and Third World or Global South- post-colonial bloc of nations. During the cold war period, The Cold War; by definition (primarily) a nonmilitary conflict America and Russia channeled in the race of politics for gaining support from various fallen countries. It pitted against each other, two perpetual structures of life: one that stressed human rights and the rule of law (by the Capitalists), and the other one subordinated human rights and law entirely to the interests of the state. USA was afraid that Communism will harm their free market economy (USA used containment policy to stifle communist influence in Eastern Europe and Asia) and ultimately will replace America as Super power, on the other hand USSR was fretting that America will influence the world using her money. In this hustle bustle, America came up with the idea of development project, certain policies were suggested under this project one of them was the Marshall plan, For both selfless and selfish reasons, the United States institutes the Marshall Plan, giving massive amounts of aid to the war-ravaged countries of Europe. Suspicious of American intentions, Stalin prevented countries in the Soviet sphere from taking part in …show more content…

Famous July 1994 conference of 44 finance ministers at Bretton Woods, provided the opportunity to create an International banking system that will lubricate the world economy by mobilizing funds to regions who need purchasing power. In this conference USA treasury steered the attention towards chartering the foundation of "twin sisters": the World Bank and International Monetary Fund. The conference president, Henry Morgenthau, foresaw:"the creation of a dynamic world economy in which the peoples of every nation will be able to realize their potentialities in peace..and enjoy, increasingly, the fruits of material progress on an earth, infinitely blessed with natural riches. This is the indispensable cornerstone of freedom and security. All else must be built upon this. For freedom of opportunity is the foundation for all the

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