Question

10 describe the factors that led to the end of bretton woods system and the begining of globalization

Answer 1

The important reasons behind the end of Bretton Woods system are : (i) A decline in economic power of the USA. (ii) Change in the international financial system. (iii) Unemployment in industrialized countries. (iv) Shifting of production enterprises. (v) Changes in China.Read more on Sarthaks.com - https://www.sarthaks.com/31011/describe-any-five-factors-that-led-the-end-bretton-woods-system-beginning-globalization

Answer 2

Answer:

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(i) US dollar no longer command confidence.

(ii) US dollar could not maintain its value in relation to gold.

(iii) Collapse of fixed exchange rates on floating exchange rates.

(iv) International financial system changed, and developing countries were forced to borrow from Western Commercial Banks.

(v) Industrial world was hit by unemployment.

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