Forum international economy with works cited

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Describe the key institutions of the Bretton Woods system. How did they evolve over time? Are these institutions still necessary or relevant in today’s globalized economy?

Instructions: Your initial post should be at least 500 words. Please respond to at least two other students. Responses should be a minimum of 250 words. All three required posts should be supported by course readings using parenthetical references.

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Forum International Economy

The Bretton Woods System is a monetary management framework that was established in the 1940s. The system developed the rules that would dictate the commercial and financial relations among several countries such as the United States, Canada, Japan, Australia, and Western Europe. The system was developed following the Bretton Woods Agreement in 1944. In the system, there are several key institutions that were established. Some of the major institutions include the IMF, the World Bank, and the WTO. These institutions were supposed to bring order in the world in regards to the manner in which the monetary world would be organized following World War II. Over time, these institutions have expanded and dictated the manner in which monetary issues are addressed across the globe.

(612 words)