The Soviets had a habit of copying anything American, whether it's a good idea or not. The theory is we did all the R&D and decided this gas mask, web gear, rifle round, etc, and decided to adopt it. If we are using it, it must good gear.
Soviet leadership was always pushing for a lighter rifle. Kalashnikov was constantly coming up with new ideas to save weight, some successful, some not. Leadership pushed the smaller round based on weight saving as well as piggybacking on our percieved "success" with the M-16 ammo. In the end, their round is alot more lethal that the ones we carry.
The funny thing to me is that the AK-74 was to use as many off the shelf componnents as possible, including the barrel. The smaller round meant a smaller bore diameter, which meant more metal and more weight!