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In the early 1970s, the Council for Mutual Economic Assistance (CMEA) began to revise its trade policy towards the outside world. It needed to counter the European Community s bid to implement its Common Commercial Policy and thereby change East-West trade practices. Foreign trade priorities became at once a crucial issue on the socialist countries political agenda. The key question was whether they would have to open their system to the global economy and bear the consequent pressures and competition that this decision entailed. Based on newly declassified archival sources, this study shows...