Live Special: The American Century w/ David Miliband
Past Present Future
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The Decade of American Power
The 1970s was a decade in which most people would say the U.S. was in decline, says David Frum. America's domestic oil self-sufficiency came to an end and that hugely complicated its position in the Middle East,. It ended that decade on a note of utter humiliation when Carter ordered the rescue mission for the hostages in Iran. American financial power actually increased very considerably after the financial crisis. And so if we look at the way in which the Biden administration responded to Russia's invasion of Ukraine last February, the instrument that it chose hoping that it will have the most impact upon Putin is financial sanctions.
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