East-West Economic Relations in the 1970s and 1980s
By way of introduction we may briefly recall the atmosphere of East-West relations at the beginning of the 1970s when the signing of SALT I heralded a decisive breakthrough towards détente in the military (arms reduction) field; when the German Federal Republic’s agreements with a number of East European countries brought conciliation nearer in an area of perpetual conflict; when détente between the superpowers culminated in the visits of Nixon in Moscow and Brezhnev in Washington and the initialling of the trade agreements between the United States of America and the Soviet Union.
KeywordsEconomic Crisis Europe Shipping Rubber Income
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- (1).In 1980, Eastern Europe’s trade deficit with the West declined to US $ 3.7 billion.Google Scholar
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- (3).Comparison of only two base years (1970 and 1980) constitutes a certain weakness in the analysis. The available data basis precludes evaluation year by year for the decade. From a paper presented by Allan Lenz (USA) at the WIIW Jubilee Symposium, “Die Ost-West Wirtschaftsbeziehungen heute and morgen”, Springer Verlag Wien-New York (forthcoming) the conclusion may be drawn that competitive gains were achieved up to 1976 only and competitive losses sustained in subsequent years.Google Scholar
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- (8).A substantial proportion of the CMEA countries’ debts is owed in West European currencies, whose depreciation against the dollar has thus reduced the extent of indebtedness. The real burden of indebtedness, however, is thereby not reduced.Google Scholar