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.”