An economic war is a form of conflict resolution where one country attempts to isolate or weaken another. Embargoes, and targeted sanctions are some of the techniques used in economic warfare. This article will explain how these measures impact a nation's military strength. We will also look at the potential consequences of these tactics for the nation.
Impact of economic warfare on a nation's military power
Economic warfare is an option that can be used by a nation to undermine the military power of another. It examines a nation's ability or inability to produce and obtain goods. Increased trade between Cuba and the United States, for example, hampered the United States' attempts to overthrow Fidel Castro. Economic warfare, while a cheaper complement to military engagement is available, can have repercussions for the initiating country.
Embargoes
An embargo is often used as a tool in foreign policy to target a country. They can be used to reduce economic activity, stifle imports and have unintended consequences for civilian populations, especially the disadvantaged. In addition, these actions can result in violations of human rights. 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
Economic warfare can be used to cripple an economy. Blockades are most effective when the target economy relies heavily on exports and imports. The Union Navy used blockades during the Civil War to decimate the Confederacy's economy. It broke the Confederacy’s transport network and food supply as well as its monetary system.
Lease-Lend program
The Lend-Lend program was a major source of economic support for the war effort in Europe. It helped bolster the military efforts of the British and the Soviet Union, and provided them with the equipment and supplies they needed to fight the war. While Soviet history tends to minimize America's role in the war, some historians believe that the Soviet Union would not have won the war without American assistance. The United States ended its policy of neutrality in March 1941 and this program marked the end.