Need an research paper on the impact of bretton woods system on the world economy and the increase in world trade. Needs to be 6 pages. Please no plagiarism. The factors that led to the formation of the Bretton Woods System are briefly examined here. From 1949 to 1960, trade among European countries increased many folds. This is mainly attributed to the Bretton Woods System. With the beginning of the 21st century, we see the increased influence of multinational corporations in policy making and their presence in international decision making bodies. As the General Agreement on Trade and Tariff (GATT) is applied to most of the countries in the world, world trade increased phenomenally in the 21st century with a reduction in tariff.
Every nation tries to dominate the world one or the other way. Great Britain conquered colonies and ruled them for many centuries to exploit their economic resources. After the Second World War, the USA became an undisputed world leader. When the world was divided into two groups based on the ideology, the USA tried to forge its ally in Europe through economic aid while the Soviet Union forged its ally through communist ideology. My goal in this essay is to portrait the economic changes in Europe after the commencement of the Bretton Woods System.
At the beginning of the 17th century, Britain became the uncrowned leader of the world with a quarter of the world’s population under its control. From the latter part of the 16th century to the beginning of the 20th century, Britain ruled the world with its iron hand. The British Empire was the first genuinely global empire. As Britain controlled many countries in the world, British culture, the English language, and the British political system influenced colonies.
Even though 13 colonies in North America became independent in 1783, the hegemony of Britain over India, France, and African colonies made it the wealthiest nation. With the beginning of the industrial revolution, the national income of Britain witnessed unprecedented growth. Britain used the colonies as a market for selling the finished goods and importing.
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