How brettom woods end? And beginning of globalization.
Answers
describe any five factors that led to the end of Bretton woods system and the beginning of globalisation
Declining economic power of USA :US Dollar no longer command confidence collapse of fixed exchange rates on floating exchange rates
Change in the International Financial : The International Monetary Fund and the World bank for created to meet the financial needs of the industrial countries. International Financial System changed and developing countries were forced to borrow from Western commercial banks.
unemployment in industrialised countries :industrial world was hit by unemployment. the number of unemployed started rising and people trudged long distances looking for any work they could find.
shifting production Enterprises :MNCs shifted their production units to Asian countries because of cheap labour and low wages
changes in China: China became an attraction destination for investment by foreign MNCs
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