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Economic Globalization, Bretton Woods Conference - Coggle Diagram
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Bretton Woods Conference
Created in WWII
44 nations were worried about rebuilding the global economy after the war. The Bretton Woods Conference brought a new international monetary system was created to promote international trade and regulate currency among western countries.
The Bretton Woods Conference lead to the making of the World Bank and IMF to regulate the worlds economy
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Con: Nations needed more money so they printed more, which resulted in the creation of inflation, as too much debt was accumulated and resulted in a loss of value of the currency.
The Bretton Woods Institutions which created the IMF and World Bank had an important role to play in the making of globalisation work better. They were created in 1944 to help restore and sustain the benefits of global integration by promoting international economic cooperation.
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