Common Contracts
1 similar null contracts
WTO and Bretton Woods SystemMay 2nd, 2020
Following the ineffectiveness of the League of Nations in preventing the Second World War, a need was felt to strengthen the United Nations system of global political governance along with some pillars for global economic governance. The Second World War was as much due to political reasons as was a result of economic fundamentalism on the part of the then economic powers of the world. The Bretton Woods Agreement was developed and negotiated in July 1944 by delegates from 44 countries at the United Nations Monetary and Financial Conference held in Bretton Woods, New Hampshire USA to establish a new international monetary system: the Bretton Woods System. Thus came the Bretton Woods institutions for global economic governance. The World Bank was constituted to help poor and newly independent countries with their development efforts. The International Monetary Fund was established to coordinate macroeconomic policies, particularly monetary policies. The third pillar of the Bretton Woods
