POLD89H3 Study Guide - Final Guide: Bretton Woods Conference, Multilateral Trade Negotiations, Maastricht Treaty
Document Summary
A conference of 45 sovereign states at hotel bretton wood, Conference created a multilateral system that would regulate and govern post ww2 and prevent another depression. The system attempted to institutionalize the international monetary cooperation, but voting rights were in relation to quotas. Bretton woods tried to create the ito , but the un refused to the creatjon of gatt. A potential agreement to provide a framework of rules and a forum to negotiate trade barrier reductions among nations. Led to creation of wto,for members to address international trade issues. Under bs the us dollar was pegged to gold and all other currencies pegged to the us dollar. With lots of spending , the amount of dollars in circulation quickly exceeded the amount of gold used to back the. After being pulled back into a recession in 1960s, president. Richard nixon declared that it could no longer be pegged to gold; thus the end of bs system.
