By Oscar Sanchez-Sibony

Used to be the Soviet Union a superpower? crimson Globalization is an important rereading of the chilly warfare as an fiscal fight formed by way of the worldwide economic system. Oscar Sanchez-Sibony demanding situations the concept the Soviet Union represented a parallel socio-economic build to the liberal global financial system. as an alternative he indicates that the USSR, a middle-income kingdom mostly on the mercy of world monetary forces, tracked an analogous direction as different nations on the planet, relocating from Nineteen Thirties autarky to the globalizing tactics of the postwar interval. In interpreting the restrictions and possibilities afforded the Soviets of their engagement of the capitalist global, he questions the very foundations of the chilly battle narrative as a competition among superpowers in a bipolar international. faraway from an financial strength on the planet, the Soviets controlled purely to develop into based companies of strength to the wealthy global, and second-best companions to the worldwide South.

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Extra resources for Red Globalization: The Political Economy of the Soviet Cold War from Stalin to Khrushchev

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The debates that ensued focused mostly on two issues: the perennial misgivings about the reliability of Soviet statistics, and the debates over Soviet investment and hidden inflation that played out mostly in the pages of the journal Soviet Studies. Alec Nove was the first to make this connection. 27 The statistics were wrong because they hid a significant degree of inflation that arose from the growing disparity between the rising price of a given product and that product’s real use characteristics, which often remained unaltered.

This may well have been viewed as an incredible revaluation of the ruble; Soviet strength in other words. However, domestically, rubles were exchanged at the rate of ten old ones for one new one, and prices were slashed by ten. Not that this meant the ruble had been devalued vis-à-vis the dollar. In fact, none of it meant much at all, except for accounting for actually convertible currency in rubles. For a breakdown of ruble values and conversion coefficients of foreign trade rubles to 1961 see Dohan, “Soviet Foreign Trade in the NEP Economy,” 703–08.

1, 342. Goland, “Currency Regulation in the NEP Period,” 1279. The better to manage the now “inextricable link” between the domestic and world economies, as A. D. Tsiurupa explained it to the public in an article published the day after the merger of the two commissariats. In RGAE f. 5240, op. 1, d. 1, ll. 2–3. They were separated in 1931, another telling clue as to when the leadership accepted its mistake and changed, or rather postponed, its integrationist policy. Depression Stalinism 39 the time.

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