What were the impact of britain woods agreement explain?
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Answer:
The impact of Britain woods agreement:
(i) Bretton Woods system inaugurated an era Of unprecedented growth of trade and income for the Western industrial nations and Japan.
(ii) It provided a big boost to the world trade which grew annually at over 8 per cent between 1950 and 1970. and incomes at nearly 5 per cent.
(iii) The grow-h was also mostly stable, without large fluctuations.
(iv) The system also controlled the unemployment which averaged less than 5 per cent in most industrial countries.
(v) These decades also saw the worldwide spread of technology and enterprise. Developing countries were in a hurry to catch up with the advanced industrial countries. Therefore, they invested vast amounts of capital, importing industrial plans and equipment featuring modern technology.
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