3.4.4 - End of Bretton Woods and the Beginning of ‘Globalisation’
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Practice Questions
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What was Bretton Woods?
💡 Hint: Think about which country the dollar was tied to.
Define floating exchange rates.
💡 Hint: How do these rates change?
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Interactive Quizzes
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What led to the end of the Bretton Woods system?
💡 Hint: Think about what ultimately created pressure on the U.S. dollar.
True or False: The floating exchange rate allows for direct government intervention.
💡 Hint: Consider how currency values are set.
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Challenge Problems
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Evaluate the sustainability of international debt among developing nations after transitioning from Bretton Woods. What economic strategies could mitigate these issues?
💡 Hint: Consider how countries like China developed alternative local economies.
How did the movement of MNCs into low-wage countries impact socio-economic conditions in those countries?
💡 Hint: Think about the balance between job creation and worker rights.
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