Question

End bretton woods and beginning of globalisation?
​(reply fast plz)

Answer 1

End of Bretton Woods and the Beginning of 'Globalisation' End of Bretton Woods and the Beginning of 'Globalisation' : (i) After 1960s, US was no longer the dominant economic power as it had been for more than two decades. The US dollar now no longer commanded confidence as the world's principal currency.

Answer 2

1.$\textbf{ Change in the international financial }$ :

a. IMF and World Bank were setup to meet the financial needs of industrial countries.

b. Many developing countries were forced to borrow from western commercial bank.

2.$\textbf{ Change in China}$ :

Foreign MNCs were attracted towards China due to cheap labour cost.

3. $\textbf{Unemployment in industrial countries}$ :

The creating world was badly hitted by the problem of unemployment. This leads to movement of people.

4.$\textbf{ Decline in economic power of the USA}$ :

a. Confidence of US dollar was no more longer.

b. Collapse of fixed exchange rate on floating exchange rate.

5.$\textbf{ Shifting to production enterprises }$ :

Asian countries were became an attractive place for MNCs for production due to cheap labour and low wages.