oussama94
05-28-2017, 19:30
In July 1944, representatives of 44 nations met in Bretton Woods, New
Hampshire, to create a new institutional arrangement for governing the international
economy in the years after World War II. After the war, most
agreed that international economic instability was one of the principal
causes of the war, and that such instability needed to be prevented in
the future. The agreement, which was developed by renowned economists
John Maynard Keynes and Harry Dexter White, was initially proposed to
Great Britain as a part of the Lend-Lease Act—an American act designed to
assist Great Britain in postwar redevelopment efforts. After various negotiations,
the final form of the Bretton Woods Agreement consisted of several
key points:
The formation of key international authorities designed to promote fair
trade and international economic harmony
2. The fixing of exchange rates among currencies.
3. The convertibility between gold and the U.S. dollar, thus empowering
the U.S. dollar as the reserve currency of choice for the world
Hampshire, to create a new institutional arrangement for governing the international
economy in the years after World War II. After the war, most
agreed that international economic instability was one of the principal
causes of the war, and that such instability needed to be prevented in
the future. The agreement, which was developed by renowned economists
John Maynard Keynes and Harry Dexter White, was initially proposed to
Great Britain as a part of the Lend-Lease Act—an American act designed to
assist Great Britain in postwar redevelopment efforts. After various negotiations,
the final form of the Bretton Woods Agreement consisted of several
key points:
The formation of key international authorities designed to promote fair
trade and international economic harmony
2. The fixing of exchange rates among currencies.
3. The convertibility between gold and the U.S. dollar, thus empowering
the U.S. dollar as the reserve currency of choice for the world