i. What mechanisms were created after World War Two for supporting sovereign state solvency as well as coordinating global trade and finance?
When the World War II ended, the economy of many countries of Europe was devastated, so it was necessary to create viable systems or plans which would help to these economies recovering. Besides the Marshall Plan, which was a program created by the American government after World War II to help European states recovering, the international community created the Bretton Woods institutions. The meeting held in Bretton Woods in 1944 was the occasion in which the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (IBRD; actual World Bank) and the General Agreement on Tariffs and Trade (GATT) were created ( Lamy and Baylis 350). These three …show more content…
What changes might be occurring in the structure of global trade and finance on the twenty-first century international system?
The international system was dominated by western countries for many decades. This dominance was evident in almost every sector; however, China seems to be one of the countries that will cause significant changes in the structure of global trade and finance during the twenty-first century international system due to a myriad of …show more content…
Does China’s role presage a return to mercantilism, or even greater international trade cooperation and integration? China is a “monster” in the global trade and finance. It has been stablishing cooperation with many countries around the world. These accords trigged a debate on whether China is a neo-mercantilist country or it is doing greater international trade cooperation and integration. Both possibilities can be support by the present facts which are extremely controversial because most of its accords seem to have equal benefits for the two countries involved; however, some analysts consider it as a strategy to control the world’s economy and dictate the rules in the global
When the World War II ended, the economy of many countries of Europe was devastated, so it was necessary to create viable systems or plans which would help to these economies recovering. Besides the Marshall Plan, which was a program created by the American government after World War II to help European states recovering, the international community created the Bretton Woods institutions. The meeting held in Bretton Woods in 1944 was the occasion in which the International Monetary Fund (IMF), the International Bank for Reconstruction and Development (IBRD; actual World Bank) and the General Agreement on Tariffs and Trade (GATT) were created ( Lamy and Baylis 350). These three …show more content…
What changes might be occurring in the structure of global trade and finance on the twenty-first century international system?
The international system was dominated by western countries for many decades. This dominance was evident in almost every sector; however, China seems to be one of the countries that will cause significant changes in the structure of global trade and finance during the twenty-first century international system due to a myriad of …show more content…
Does China’s role presage a return to mercantilism, or even greater international trade cooperation and integration? China is a “monster” in the global trade and finance. It has been stablishing cooperation with many countries around the world. These accords trigged a debate on whether China is a neo-mercantilist country or it is doing greater international trade cooperation and integration. Both possibilities can be support by the present facts which are extremely controversial because most of its accords seem to have equal benefits for the two countries involved; however, some analysts consider it as a strategy to control the world’s economy and dictate the rules in the global