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Hofmann

Subventionierte Hegemonie

Die Offset-Abkommen als bilaterales Instrument währungspolitischer Kooperation zwischen der Bundesrepublik Deutschland und den USA (1960–1976)
Nomos,  2022, 481 Pages

ISBN 978-3-8487-8440-0


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The work is part of the series Historische Grundlagen der Moderne (Volume 23)
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englischBetween 1961 and 1974, the Federal Republic of Germany and the USA concluded eight offset agreements. Under these agreements, the FRG purchased armaments and US government bonds to offset the foreign exchange costs of US troops stationed in the Federal Republic. Figuratively, the FRG thus supported the US’s military and monetary hegemony within NATO and the Bretton Woods monetary system.

This work is the first systematic study of the German–American foreign exchange adjustment until its termination in 1976. Based on an analysis of American and German files, it remeasures the weakening asymmetrical power relationship between the Federal Republic and the United States during the Cold War.

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