before the end of WWIl.Free trade was believed to lead to peace.The lesson was learned from Hitler's Nazism.Also the U.S.became a superpower. 1)Bretton Woods system:Setting up a system of rules, institutions,and procedures to regulate the international monetary system,the planners at Bretton Woods established the International Monetary Fund(IMF)and the International Bank for Reconstruction and Development(IBRD),which today is part of the World Bank Group
before the end of WWII. Free trade was believed to lead to peace. The lesson was learned from Hitler ’ s Nazism. Also the U.S. became a superpower. 1) Bretton Woods system: Setting up a system of rules, institutions, and procedures to regulate the international monetary system, the planners at Bretton Woods established the International Monetary Fund(IMF) and the International Bank for Reconstruction and Development (IBRD), which today is part of the World Bank Group
These organizations became operational in 1945 after a sufficient number of countries had ratified the agreement.The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate by tying its currency to the U.S.dollar and the ability of the IMF to bridge temporary imbalances of payments
These organizations became operational in 1945 after a sufficient number of countries had ratified the agreement. The chief features of the Bretton Woods system were an obligation for each country to adopt a monetary policy that maintained the exchange rate by tying its currency to the U.S. dollar and the ability of the IMF to bridge temporary imbalances of payments