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2J03 - Feb 8, 2012.docx

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Political Science
O' Briem

Global Political Economy 2J03Lecture10 February 8 2012Global Financial System OverviewDefinitions Perspectives MundellFleming Developments Floating rates financial innovation 1980s debt crisis Key Issues Over ViewIMS and Credit systemGlobal Financial SystemInternational Monetary SystemGlobal Credit Systemhow they interactIMS from fixed to floating regional currencies fixed to floating exchange ratesUsed to be in 50s60s value of currency didnt change much against each otherFloating rates Canadian dollar changes quickly by the minute against the USA dollar Credit System how to borrow money lent credit from public to private system crisis to crisis movement to a system controlled by government moving to private or corporate actors or this credit system where companies borrowing money going from one crisis to another 1980s Latin America debt Crisis late 1990s East Asian 2008 USA which then spread to Europe Bretton Woods New Hampshire 1944 meeting of allied powers in Bretton Woods to create post war architecture txt book 20th c WW2 lessons if you didnt want to have another world war create international system that is financially stable Bretton Woods system is the trying to creation of this set
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