SOSC 1520 Study Guide - Final Guide: General Agreement On Tariffs And Trade, National Treatment, Foreign Direct Investment

• School: York University
• Department: Social Science
• Course: SOSC 1520
• Professor: Glenn Goshulak

Document Summary

Bretton wood was a system created in the 1944 near the end of world war two in new. Leaders of 44 different nations met together to create a system that would make sure no economic problems would arise from the war. The system was suppose to help capital control. This was done by using a fixed exchange rate which was introduced in order to help promote trade and make it so currencies would be stable. The fixed exchange rate was based on the usd which became the gold standard, and america promised to back it up with gold for. The system setup rules, institutions and procedures to help regulate the international monetary system. Two institutions that were created in order to help this new system were the. Imf role was to help referee all countries by monitoring them and seeing that they were keeping their currency stable. They would also provide advice and assistance to countries not doing so well.