Chap10 The International Monetary System(11)

The Bretton Woods SystemIn 1944, representatives from 44 countries met at Bretton Woods, New Hampshire, to design a new international monetary system that would facilitate postwar economic growth

1944年，在新罕布什尔州的布雷顿森林，与会的44个国家 的代表制订新的国际货币体系来促进战后的经济增长Under the new agreement: a fixed exchange rate system was established all currencies were fixed to gold, but only the U.S. dollar was directly convertible to gold devaluations could not to be used for competitive purposes a country could not devalue its currency by more than 10% without IMF approval山东经济学院·国际贸易学院 School of International Trade, Shandong Economic University 1-11

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