Shaping of the Post-War World Political Economy

§ Theme: the US strategic vision of a liberal world order.

§ Hegemony.

§ Interwar vision of “interdependence.”

§ Planning for the new order

o Lessons of the wartime experience.

o Luce’s “American century.”

o The “Grand Area”

§ Essentials of the hegemonic strategy: Bretton Woods, the Marshall Plan, crucial roles of German and Japanese recovery; TNC investments; “military Keynesianism” (NSC-68); energy.

§ Implications for Asia

o Japan: the bureaucratic state and late capitalism; the Occupation; the Yoshida Doctrine and economic diplomacy.

o China: meaning of Mao’s revolution; “leaning to one side” and “sweeping the kitchen clean.”