Mention the factors responsible for the end of the bretton wood system
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i) The Decline of US Currency: After 1960s, the 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. Tire dollar could not maintain is value in relation to gold.
(ii) New powers : By the mid-1960s, the E E C and Japan had become international economic powers in their own right. With total reserves exceeding those of the US. with higher levels of growth and trade, and with per capita income approaching that of the US. Europe and Japan were narrowing the gap between themselves and the United States.
(ii) New powers : By the mid-1960s, the E E C and Japan had become international economic powers in their own right. With total reserves exceeding those of the US. with higher levels of growth and trade, and with per capita income approaching that of the US. Europe and Japan were narrowing the gap between themselves and the United States.
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