AMST-A100 1st Edition Lecture 22Outline of Last Lecture I. Transnational flows between the US & the Caribbeana. Immigration and tourismII. Globalization a. European Capitalb. Native American Landc. African LaborIII. Modernization & Dependency theoriesOutline of Current Lecture I. U.S. Interventionsa. “Destabilization and Intervention in Latin America and the Caribbean” by James Dietzb. U.S. foreign policy in the AmericasII. Neoliberal Globalizationa. Neocolonialismb. The Washington ConsensusCurrent LectureU.S. Interventions- The US has occupied areas of the Caribbean both militarily and politically - Sometimes up to 2 decades (Haiti, Jamaica, Dominican Republic, Cuba)- Left a framework that allowed us to intervene in the affairs when seemed fitThese notes represent a detailed interpretation of the professor’s lecture. GradeBuddy is best used as a supplement to your own notes, not as a substitute.- Dietz (pg. 4)- “The boundaries of acceptable sovereign action by Caribbean states have been severely circumscribed by U.S. economic and whether real or imagined-security interests that the United States has codified and treated as natural law.”- US Foreign Policy in the Americaso “Banana wars” was a series of occupations, police actions, and interventions involving the United States in Central America and the Caribbeano The Monroe Doctrine: US foreign policy introduced in 1823 that asserted the right of the United States to intervene against European efforts to interfere in theaffairs of the countries of the Western Hemisphere o The Roosevelt Corollary: Introduced by Theodore Roosevelt in 1904 as a corollaryto the Monroe doctrine. Asserted the rights of the US to intervene in order to stabilize the economics of Latin American and Caribbean nations. “Walk softly but carry a big stick” the big stick of military intervention to make sure the Caribbean economy was stableo The Good Neighbor Policy: Introduced by Franklin Delano Roosevelt in 1993, this policy stresses non-intervention. In practice, however, intervention continued in more indirect ways. - Political cartoons and music o “Walk softly but carry a big stick” o “Washington Bullets” (The Clash, 1980): the US was funding and providing arms to people in groups who were opposing communismo “Welcome to the Occupation” (R.E.M., 1986): A reference to US policy in the CaribbeanNeoliberal Globalization- Neoliberalismo Neoliberalism refers to a set of economic and political policies and practices that have emerged since the 1980s in particular. o Despite the name, neoliberalism is not “new” nor is it “liberal” in the common sense of that termo It refers to a renewed emphasis on free markets- The Washington Consensus o A cure for Latin American and Caribbean poverty that has opened up the door forU.S. interventiono The specific bundle of neoliberal policies implemented in the Americas since the 1980s - IFIso World Bank: provides loans that supplement investments in a country’s infrastructure (with certain conditions)o International Monetary Fund (IMF): International organization that would coordinate exchange rates in order to stabilize the global economy and to contribute to the growth of its member countrieso World Trade Organization (WTO): deals with the global rules of trade between nations.- Structural Adjustment Programso Changes that a country must make to get a World Bank/IMF loan or to negotiate lower interest rates.o Critics argue that these policies often leave the nation and its citizens vulnerable to unpredictable global markets.o Former head of World Bank Joseph Stiglitz believes that SAPs do not work consistently and often leave countries worse off. Only work about half of the time.- Neocolonialism and Tourismo In addition to its emphasis on free markets, neoliberalism stresses free trade between nations.o From this perspective, countries should open their borders to foreign investmento In theory, foreign investment (along with loans form ICFs) provide a way to improve the infrastructure of poor countries as well as create jobso One of the criticisms of this approach is that today the tourism industry in the Caribbean is dominated by foreign owned all- inclusive resorts. o Some critics see this as a form of neocolonialism because foreigners are owning vast amounts of land eliminating sovereignty in poor countrieso The profits from foreign owned all- inclusive resorts go out of the