Year 1978 Essay, Research Paper

1978The year 1978 posed an eventful and intriguing year. From the stressful andexerting affairs of the world to the rising popularity in sports and entertainment. Manyfactors of the year 1978 contributed greatly to the changing times and future years. Eachevent played an intricate role in the overall picture of the world. Many world news stories occurred in 1978 including the signature of China andJapan for The Treaty of Peace and Friendship in August which led to the establishment ofnormal diplomatic relations with the U.S. in December. Russia proved to have a badpolitical and economic year. The trade deficit with the West jumped sharply and itsgrowth rate lagged. Saudi Arabia played the role of the honest broker in Arab disputesover the Egyptian – Israeli peace negotiations in 1978 while neutralizing its ties with theUnited States at the same time. The United Nations (U.N.) sent a peacekeeping force toLebanon in 1978 after Israeli troops withdrew. Moscow continued to lose authority it once possessed over the world. Communistmovement and the Eurocommunists of Italy, France, and Spain lst ground in elections.Many noted world leaders also died in 1978. The prime minister of Australia ( Sir RobertG. Menzies ) and Golda Meir, the prime minister of Israel were among such persons.Another death included Jomo Kenyatia of Kenya. Meanwhile, events in our own nations continued to stir. The years 1978 remaineda year of discontent in the United States in which war was unnoted but peace with oneselfalso remained absent. The U.S. Didn’t lose its influence in Asia and established

Diplomatic Relations with the Communist Regime in China. Despite differences with theSoviet Union, The u>S. remained on the verge of signing a Second Strategic ArmsLimitation Treaty with Russia and peace with the Middle East remained a brightpossibility. The year 1978 saw the dramatic entrance of women into the work force of thenation and a wider reform movement for women’s rights. There was also an increase inspecial-interest groups. Only thirty-seven percent of eligible voters went to the polls in thecongressional election in November of 1978. This remained the lowest turn-out in 35years. President Carter introduced an austerity budget for 1978 -78 which infuriatedliberals, major labor union leaders, and the blacks. Political controversies of 1978 andearly 1979 illustrated this drift toward a transformation of people into new isolated yetpowerful factions. By the beginning of 1979, the United States was a more aware and lessarrogant nation. After humulation by Vietnam and the shock of the Watergate Scandal,the U.S. Took its time to sort things out before the eighties approached. In December 1978, the major oil-producing countries raised their prices by 14.5%. This pushed the rate of inflation in the U.S. to eight percent and depressed the valueof the dollar. In fact, through 1978, the value of the U.S. dollar created an almostinsoluble dilemma not only for the U.S. but the entire Western world. Most of the blamewas placed on President Carter and his inexperience. However, President Carter initiatedan anti-inflation policy ( Phase II ) in October.