Bretton Woods System

 The Bretton Woods monetary system refers to the international monetary system centered on the US dollar after World War II.

The Bretton Woods system is a gold exchange standard based on the U.S. dollar and gold. Its essence is to establish an international monetary system centered on the U.S. dollar. The basic content includes the pegging of the U.S. dollar to gold and the currency of the IMF member countries to maintain the U.S. dollar. Fixed exchange rate (practice a fixed exchange rate system). The operation of the Bretton Woods monetary system is closely related to the reputation and status of the US dollar.

The "Bretton Woods System" established two major international financial institutions, the International Monetary Fund and the World Bank. The former is responsible for providing short-term capital loans to member countries to ensure the stability of the international monetary system; the latter provides medium- and long-term credit to promote the economic recovery of member countries.

Interesting point

After the collapse of the Bretton Woods system, the "Smithsonian Agreement" was reached. However, in the end, the crisis of confidence in the US dollar was not eliminated and the US balance of payments continued to deteriorate.

At that time, when I was studying world history, I was impressed by the Bretton Woods system. After consulting the knowledge of globalization, I also learned about other agreements and also learned about the factors that ultimately led to a floating exchange rate system based on market supply and demand. Introduce relevant content.