Summary of Jeffrey E. Garten's Three Days at Camp David

By IRB Media

Please note: This is a companion version & not the original book. Book Preview:

#1 When Nixon took office, America had been fighting for the past several years to defend South Vietnam from being taken over by the Communist regime of North Vietnam, which itself was supported by China and the Soviet Union. America’s goal was to make sure South Vietnam and its neighbors in Southeast Asia did not fall into the Communist camp.

#2 In his first two years in office, Nixon faced many challenges. He began working on arms control agreements with the Soviet Union and the opening of relations between the United States and China. But he would not produce any real breakthroughs until 1971.

#3 The New Isolationism was a negative congressional and public reaction to the tragic and unwinnable Vietnam War. It stemmed from the desire to bring back all troops stationed in Western Europe, as well as reduce American defenses abroad.

#4 Nixon knew that to keep isolationism and protectionism at bay and respond effectively to intensifying globalization, he needed to change America’s foreign policy.

• Language: English
• Publisher: IRB Media
• Release date: Jul 13, 2022
• ISBN: 9798822546585

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Insights on Jeffrey E. Garten's Three Days at Camp David

Contents

Insights from Chapter 1

Insights from Chapter 1

#1

When Nixon took office, America had been fighting for the past several years to defend South Vietnam from being taken over by the Communist regime of North Vietnam, which itself was supported by China and the Soviet Union. America’s goal was to make sure South Vietnam and its neighbors in Southeast Asia did not fall into the Communist camp.

#2

In his first two years in office, Nixon faced many challenges. He began working on arms control agreements with the Soviet Union and the opening of relations between the United States and China. But he would not produce any real breakthroughs until 1971.

#3

The New Isolationism was a negative congressional and public reaction to the tragic and unwinnable Vietnam War. It stemmed from the desire to bring back all troops stationed in Western Europe, as well as reduce American defenses abroad.

#4

Nixon knew that to keep isolationism and protectionism at bay and respond effectively to intensifying globalization, he needed to change America’s foreign policy.

#5

The foreign holders of dollars were especially concerned with the American inflation rate, which they believed was destroying the value of their dollars. In addition, the trade-offs between financing the Vietnam War and funding the Great Society programs worried them.

#6

The Nixon administration had two ways to quell inflation: raising interest rates and tightening the budget. However, the government was not willing to take any fundamental monetary or fiscal measures for trade reasons alone.

#7

By the end of 1970, it was clear that gradualism was a failure. Everything was going wrong. A recession was looming, while both inflation and unemployment were rising. The economy was experiencing stagflation, which meant that there was no solution to the problem.

#8

By the end of 1970, even Nixon’s Council of Economic Advisers was brutally frank about where the economy stood. In its February 1971 report, it said that the economy disappointed many expectations and intentions, and that the momentum of rising costs and prices was extremely powerful.

#9

The United States was obligated to exchange dollars into gold at $35 an ounce when asked to do so by foreign governments and central banks. The United States didn’t have enough gold to make the exchange, and a potential