Question

Give any five factors responsible for the end of Bretton woods system and the beginning of globalisation​

Answer 1

I wrote only four factors

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(i) US dollar no longer commanded 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.

Answer 2

Answer:

The important reasons behind the end of Bretton Woods system are:

(i) Decline in economic power of the USA.

(ii) Change in the international financial system.

(iii) Unemployment in industrialised countries.

(iv) Shifting of production enterprises.

(v) Changes in China.