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A Superpower TransformedThe Remaking of American Foreign Relations in the 1970s$
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Daniel J. Sargent

Print publication date: 2015

Print ISBN-13: 9780195395471

Published to Oxford Scholarship Online: December 2014

DOI: 10.1093/acprof:oso/9780195395471.001.0001

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Managing Interdependence

Managing Interdependence

(p.165) 6 Managing Interdependence
A Superpower Transformed

Daniel J. Sargent

Oxford University Press

After the oil crisis, Henry Kissinger began to reorient US foreign policy toward the management of interdependent economic relations among the industrialized countries. While Kissinger remained committed to preserving US primacy in world affairs and to containing Soviet power, he had come to recognize that sustaining the Western Alliance depended on reorienting it toward the challenges that economic interdependence-a consequence of globalization-increasingly produced. Kissinger in 1974 began working to rally the Western nations around conservation efforts intended to mitigate the West’s dependence on imported oil, and to promote macroeconomic coordination among the industrialized countries to manage the effects of complex interdependence. Kissinger also engaged developing countries, eager to fend off the Third World’s demands for a New International Economic Order. This chapter argues that the mid-1970s were for Kissinger a phase of partial but creative accomplishment.

Keywords:   Henry Kissinger, interdependence, policy coordination, G-6 summit, G-7 summit, Gerald Ford, energy policy, international monetary relations, NIEO

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