An economic war is a form of conflict resolution where one country attempts to isolate or weaken another. Embargoes or targeted sanctions are the methods used in economic war. This article will explain how these measures impact a nation's military strength. We will also explore the possible consequences of these techniques and their implications for the nation.
The impact of economic warfare on the military power of a nation
Economic warfare is an option that can be used by a nation to undermine the military power of another. It is a strategy that aims to reduce the nation's ability to produce or acquire goods. In this case, the United States was unable to stop Fidel Castro's overthrow because of increased trade between Cuban and American. Even though economic warfare is an inexpensive complement to military involvement, it can also have costs for the initiating nation.
Embargoes
Sometimes, embargoes serve as a tool to influence foreign policy. They can reduce economic activity as well as stifle exports. Unintended negative consequences may also be caused for civilian populations, in particular those most disadvantaged. These actions can also result in human rights violations. This paper discusses the negative consequences that embargoes can have on civilian populations and calls for research into the best ways to reduce them.
Blockades
A form of economic warfare, blockades can cripple an entire economy. These are especially effective when the target country's economy is heavily dependent on imports or exports. The Union Navy used blockades during Civil War in order to wipe out the Confederacy’s economies. It broke the Confederacy’s transport network and food supply as well as its monetary system.
Lease-Lend program
Lend-Lend, a program that provided economic support to the war effort in Europe, was a significant source. It helped to boost the military efforts of both the British & Soviet Union and provided them with the necessary equipment and supplies to fight the war. While Soviet histories tend to minimize American involvement, some historians assert that the Soviet Union would have lost war without American support. This program, which was launched in March 1941 marks the end to the United States's policy against neutrality as well as the rise of the United States into an economic power.