Trading Power
West Germany's Rise to Global Influence, 1963–1975

Highlights how West Germany leveraged its economic power to become a key pillar of the global order in the 1960s and 1970s.

William Glenn Gray (Author)

9781108424646, Cambridge University Press

Hardback, published 3 November 2022

475 pages
23.5 x 16 x 3.3 cm, 0.85 kg

'Trading Power is the single best and most complete analysis of West Germany's rise to dominance in cold war Europe. Based on extraordinarily in-depth research, Gray skillfully and clearly tells the story of the diplomatic, political, and economic development of German power within the European community, the Atlantic alliance, and the international system. This history is essential to understanding Germany's significance in shaping the liberal world order and its changing position in today's Europe. It is a must-read for policymakers and students alike. A real triumph!' Thomas A. Schwartz, author of Henry Kissinger and American Power: A Political Biography

Trading Power traces the successes and failures of a generation of German political leaders as the Bonn Republic emerged as a substantial force in European, Atlantic, and world affairs. Over the course of the 1960s and 1970s, West Germans relinquished many trappings of hard power, most notably nuclear weapons, and learned to leverage their economic power instead. Obsessed with stability and growth, Bonn governments battled inflation in ways that enhanced the international position of the Deutsche Mark while upending the international monetary system. Germany's remarkable export achievements exerted a strong hold on the Soviet bloc, forming the basis for a new Ostpolitik under Willy Brandt. Through much trial and error, the Federal Republic learned how to find a balance among key Western allies, and in the mid-1970s Helmut Schmidt ensured Germany's centrality to institutions such as the European Council and the G-7 – the newly emergent leadership structures of the West.

Introduction
1. The unraveling of Adenauer's grand strategy (1962–1963)
2. America's junior partner (1963–1964)
3. Twenty years after (1964–1965)
4. The stability imperative (1965–1966)
5. Gaullist temptations (1966–1968)
6. The magnetism of prosperity (1967–1968)
7. A decisive election (1969)
8. The zenith of Ostpolitik (1970)
9. The European pendulum (1970–1972)
10. Hazards from the Global South (1970–1972)
11. The embattled chancellor (1971–1972)
12. The center of Europe (1973)
13. The crisis management team (1973–1974)
14. New structures for the West (1974–75)
Conclusion
Select bibliography
Index.

Subject Areas: Economic history [KCZ], 20th century history: c 1900 to c 2000 [HBLW], European history [HBJD]