Watch Video: The Bretton Woods System (8:24)  and Video: Bretton Woods to Brexit: The Future of Economic Cooperation (3:05)  to better familiarize yourself with the history of the Bretton Woods semi-fixed exchange rate system that prevailed for about 30 years and the reasons for which it was abandoned. With the help of the second video you should better grasp the reasons for which it is difficult for modern and advanced economies to adopt another fixed exchange rate regime, common currency included. Video: Milton Friedman on the Birth of Foreign Exchange Markets  should make you appreciate the virtues of flexible exchange rates and the reasons for which they are preferred regardless of their high level of volatility.

In 1-2 paragraphs, provide a summary of the concepts covered in the videos which answers the following:

What was the Bretton Woods exchange rate system and why was it abandoned?
Why is it difficult to for modern and advanced economies to 
adopt a fixed exchange rate reg

Running head: GLOBAL ECONOMY                  Global Economy  Name of the Student  Name of the University  			Student ID	     Table of

GLOBAL ECONOMY.

Exchange rate is the number of units of one currency that is required to purchase one unit of another currency. This article discusses the exchange rates of three international currencies with respect to dollars and the different exchange rate regimes followed by each currency. It also provides information about the history of pegging and floating exchange rates for Malaysian Ringgit, British Pound, Chinese Yuan, and Swiss Franc.

Exchange Rate Evaluation

English  Collegnglish II

This article discusses the history of foreign exchange regimes, exchange rate systems, currency wars, national monetary policy options, and central bank's intervention in the foreign exchange market. It also provides an analysis of the historical values of foreign exchange rates of USD, EUR, JPY, CNY, and MYR with respect to AUD.

Hartpury University and Hartpury College

Foreign Exchange Market: Trends, Role of Central Banks & Analysis of Exchange Rates

This article evaluates the collapse of the Post Bretton Woods monetary system and discusses the key factors that led to its downfall. It also explores the features of the system that replaced it.

Collapse of Post Bretton Woods Monetary System

This study discusses the US trade deficit and its impact on the balance of payments. It explores the concepts of BOT and BOP, and suggests remedies to improve the situation. The study also highlights the reasons behind the trade deficit and discusses the impact of shifting profits on the economy. 

History

Economics

Macroeconomics: Understanding US Trade Deficit and Balance of Payments

Public Administration

This report discusses the evolution of the exchange rate system and theories related to exchange rate determination, with a focus on the purchasing power parity theory. It also covers the methods of exchange, criticisms, and empirical tests on the PPP hypothesis. The report is relevant for students studying economics and finance.

Quezon City University

Exchange Rate Determination: Theories and Evolution

This article discusses the currency crisis, Asian financial crisis, and aftermath in international finance. It presents a timeline outlining the important issues surrounding the currency crisis and defining moments that precipitated the attack. It also indicates the events leading up to the Asian Financial Crisis and the policies, events, and measures taken by the Asian countries during the financial crisis. The article concludes with an overview of how the crisis was resolved.

GLOBAL ECONOMY.

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Exchange Rate Evaluation

Foreign Exchange Market: Trends, Role of Central Banks & Analysis of Exchange Rates

Collapse of Post Bretton Woods Monetary System

Macroeconomics: Understanding US Trade Deficit and Balance of Payments

Exchange Rate Determination: Theories and Evolution

International Finance: Currency Crisis, Asian Financial Crisis and Aftermath

GLOBAL ECONOMY.

End of preview

Exchange Rate Evaluationlg...

Foreign Exchange Market: Trends, Role of Central Banks & Analysis of Exchange Rateslg...

Collapse of Post Bretton Woods Monetary Systemlg...

Macroeconomics: Understanding US Trade Deficit and Balance of Paymentslg...

Exchange Rate Determination: Theories and Evolutionlg...

International Finance: Currency Crisis, Asian Financial Crisis and Aftermathlg...

Exchange Rate Evaluation

Foreign Exchange Market: Trends, Role of Central Banks & Analysis of Exchange Rates

Collapse of Post Bretton Woods Monetary System

Macroeconomics: Understanding US Trade Deficit and Balance of Payments

Exchange Rate Determination: Theories and Evolution

International Finance: Currency Crisis, Asian Financial Crisis and Aftermath