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Following the 1944 Bretton Woods Agreement, the Bretton Woods system of monetary management set the guidelines for trade and financial interactions among the United States, Canada, Western European nations, Australia, and Japan. The Bretton Woods system served as the first example of a completely agreed monetary order meant to regulate monetary ties between sovereign governments. It also called for more international cooperation to stop future competitive devaluations. This led to the creation of the International Monetary Fund (IMF), whose job is to keep an eye on exchange rates and give countries with balance of payments deficits reserve currencies.

A new global monetary system was formed by the 1944 Bretton Woods Accord. The U.S. dollar took over as the primary world currency, replacing the gold standard. By doing this, it made America the leading economic force in the world. America was the only nation with the authority to print money once the agreement was signed.

PDF Name: Mientras Te Olvido PDF
No. of Pages: 98
PDF Size: 25.64 MB
Language: English

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