:The tension between democratic institutions and the project to integrate international markets for trade and investment has been an enduring feature of the contemporary era of globalization. This article analyzes how officials in the executive branch navigated this tension in the making of inward foreign direct investment policy during the 1970s. Based on recently declassified archival sources, it traces how top officials in the Ford administration decided to establish a new interagency committee in order to appear responsive to congressional pressure and still leave its “open door” investment policy intact. Yet this measure only marked the first step in resolving their political dilemma. Lower-level functionaries then had to manage the problem of how to give the new committee the appearance of strength while also maximizing its discretion to be weak. Overall, this article contributes the first comprehensive account of both phases of the policy-making process using new archival evidence.

中文翻译：

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驾驭全球化困境：1970 年代民主压力和美国对外直接投资政策的制定

: 民主制度与整合国际贸易和投资市场项目之间的紧张关系一直是当代全球化时代的一个持久特征。本文分析了行政部门的官员在 1970 年代制定对外直接投资政策时如何应对这种紧张局势。根据最近解密的档案来源，它追溯了福特政府的高级官员如何决定建立一个新的跨部门委员会，以表现出对国会压力的反应，并保持其“敞开大门”的投资政策完好无损。然而，这项措施只是解决他们政治困境的第一步。下级干部必须解决如何让新委员会看起来有实力的问题，同时又要最大限度地发挥其软弱的自由裁量权。总体而言，本文首次使用新的档案证据全面介绍了决策过程的两个阶段。