GEOG 106 Lecture Notes - Lecture 7: Bretton Woods Conference, 1997 Asian Financial Crisis, Dynamic Pricing
Document Summary
A store of value and a means of exchange and financial arbitrage. Set us dollar as the worlds reserve currency. Asian countries have increasingly bought dollars and dollar denominated bonds to prop up their own currencies in times of crisis. They have a vested interest in seeing the dollar retain its value. Heightened global demand for us currency-> heightened value against the other currencies-> japan and china depress their own currencies and make their exports cheaper and more competitive. Volatile casino-like developments in global financial trading. Disturbing trade-offs between financial profits and debt. A close examination of the development of the debt crisis in which many of the worlds" poor have been trapped reveals the deep links between global indebtedness and the development of global credit markets. How bretton woods has created two distinct worlds of money. Deeply regulating forms of global poverty management. Analytical principles to help make global finance more comprehensible.
