The economic realities of detente in the East Flashcards
How had the Soviet economy performed from 1945 to 1970?
Relatively well, reducing the wealth gap between themselves and the USA
What happened to the economy of the USSR from 1970?
It began to decline
What was the GDP of the USSR by 1980?
Only 37% of the GDP of the USA
What had Brezhnev ordered the end of?
Economic liberalisation in the SU, and a return to central planning. These traditional methods were inefficient and failed to promote or sustain economic growth
Why did a rise in interest rates in the later 19070s hit the USSR hard?
The USSR had borrowed money from the West in the early 1970s
What did critics of detente in the US try to limit?
The trade agreement between America and the USSR
What did Congress introduce in 1974?
The Jackson-Vanik amendment, making trade between the two superpowers conditional on the protection of human rights in the USSR
How did the USSR react to the Jackson-Vanik amendment?
They pulled out of the trade deal, as it denied the USSR access to US technology
What was industrial growth in the USSR in the years 1964, 1973 and 1979?
1964 - 8.2%
1973 - 5.7%
1979 - 1.0%
