What were the impact of Britain wood system? Explain.
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Answered by
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Hey mate here's your answer:-
The impact of Bretton Woods System was as follows:-
1. The post-war international monetary system became a system based on fixed exchange rates.
2. In this system, national currencies were pegged to the dollar at a fixed rate and the dollar was pegged to gold.
3. This system resulted in enormous advancements in trade, commerce and employment.
4. Unemployment reduced and there were advancements in technology. Developing countries too invested in capital and technology.
5. Western countries and Japan could easily rebuild their economies with the help of this system and emerge and dominant economic powers.
The impact of Bretton Woods System was as follows:-
1. The post-war international monetary system became a system based on fixed exchange rates.
2. In this system, national currencies were pegged to the dollar at a fixed rate and the dollar was pegged to gold.
3. This system resulted in enormous advancements in trade, commerce and employment.
4. Unemployment reduced and there were advancements in technology. Developing countries too invested in capital and technology.
5. Western countries and Japan could easily rebuild their economies with the help of this system and emerge and dominant economic powers.
Answered by
2
Answer:
The Bretton Woods System required a currency peg to the U.S. dollar which was in turn pegged to the price of gold. The Bretton Woods System collapsed in the 1970s but created a lasting influence on international currency exchange and trade through its development of the IMF and World Bank
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