IV TOWARDS COORDlNATlON: THE ROAD TO TOKYO

The events of 1985 which led to Tokyo were important in themselves, i.e., for what they accomplished, but perhaps equally or even more for what they signalled about the U.S. view of managing global interdependence. Those events--the Plaza Accord which beg

Policy coordination, as mentioned, implies a significant modification of national policies, when required, in recognition of international economic interdependence. In the absence of a rule (like a fixed exchange rate or explicit target zones) and an enfo

The reassertion of U.S. leadership was, it must be stressed, a pragmatic step-by-step move to address the challenge of coordinated global management. It did not appear to stem from a coherent vision of the need for, or desirability of, a basic regime chan