An Research Of The Nixon Administration Reply To Dollar Crisis 1971-1973

According to the latest declassified documents of FRUS, and taking financial and diplomatic interaction as the main line, the thesis discusses the foreign monetary policies of the Nixon Administration from 1971 to 1973. Through revealing the intrinsic defects of the Benetton Woods System, the imbalance of the international payments as well as the incessant dollar crisis,it demonstrates a series of crises the Nixon Administration encounter and the reasons for them on the level of system. Coming to power, the Nixon Administration began to reform the existing international financial order. “Nixon Shock” and “Smithson Agreement” temporarily controlled the violent turmoil in the international market. However, “Smithson Agreement”did not eradicate the inherent defects of the fixed exchange rate system so that America's balance of payments has not yet improved. With the sterling crisis in 1972 and twice dollar crises in early 1973, the Nixon Administration embarked on the reforms of the international monetary system. By means of the discussions within the government and further consultations with main countries, the Nixon Administration finally accomplished all the reforms of the international monetary system. At last,it analyzes the influences of the international monetary policies carried out by Nixon Administration.