brinksmanship

n. [ brink + -manship. (1956). ] the policy or practise of pushing a dangerous situation to the brink of disaster (to the limits of safety), in order to achieve the most advantageous outcome; -- used especially of diplomatic maneuvers in crisis situations, and originally applied to the policies of John Foster Dulles under President Eisenhower. [ WordNet 1.5 +PJC ]