The paper "Important Features of the Bretton Woods Agreement" is an outstanding example of a business assignment. The topic chosen for analysis is the Bretton Woods System Agreement important features, the reasons for its failure and what replaced the system. The world economy has been developing since the early 20th century; many variations had been done previously before and at the beginning of the 20th century. Industrialization and development of world economies were previously very competitive and based on the countries resources. Trade within a regional block and outside the regional block commenced as industrialization geared with the production of new products.
Many agreements were made previously before the Bretton Woods System; one of the most known agreements which eventually collapsed was the Classical Gold Standard of 1879-1914. This gave rise to the establishment of the Bretton Woods System Agreement after World War II. The development of the Bretton Woods System Agreement had its challenges and successes as well; the reason for the success of the Bretton Woods System Agreement is pegged on its main features identified in this discussion.
The reason for its eventual failure are also identified, notably, economist still differ on the various causes of the Bretton Woods System Agreement but some main reasons for the failure are known and discussed in this analysis. The post-Bretton Woods System Agreement was also another new era in the world economy, how the world coped with the post-Bretton Woods System Agreement is also identified, a number of fiscal policies were adapted by IMF in order to suck the effects of the dissolution of the Bretton Woods System Agreement. Thesis statement- The main features of the Bretton Woods System Agreement, the reason for its collapse and the eventuality of the post-Bretton Woods System Agreement era. Keywords Balance of Payments- means the difference between the countries exports and its imports.
A negative means a deficit and a positive means a surplus.
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