Global Reserve System | Report

Added on - 14 Feb 2020

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INTERNATIONALPOLITICALECONOMY
Table of ContentsINTRODUCTION...............................................................................................................................3ASSIGNMENT................................................................................................................................3CONCLUSION..................................................................................................................................7REFERENCES.....................................................................................................................................9
TOPIC :- The Unfinished Task of Bretton Woods: Creating a Global Reserve SystemINTRODUCTIONGlobal reserve system is explained as practice of keeping currency that is used for makinginternational transactions. Reserve currency supports for buying imported items and purchasinggoods and commodities in international market area. Present report is based on critical assessmentof article “ The Unfinished Task of Bretton Woods: Creating a Global Reserve System”. The reportdescribes about identification of article and brief summary of ranges, content and arguments ofarticle has been mentioned in the report. Moreover, critical assessment and discussion of key issuesthat are raised in article has been mentioned.ASSIGNMENTOBJECTIVE :-Present report is based on article titled as “The Unfinished Task of Bretton Woods:Creating a Global Reserve System”. This article has been written by Joseph E. Stiglitz and it doescritical assessment of work done by Bretton Woods. The journal in which the article is mentioned is“Bretton Woods: The Next 70 Years”. This journal was published in the year 2015 and it has beenpublished by The Reinventing Bretton Woods Committee. Inception of world bank andinternational monetary fund were two major initiatives that were taken for removing the status ofUK from reserve currency system. After world war second a formal agreement names as BrettonWoods system was established for governing the international financial system. United state dollarswere dominating marketing currency under this system (Messier, Puettmann, and Coates, 2013). Itwas guaranteed by United state government that central banks can sell their existing reserves at a setcost for gold. The major objective for writing this article is to mention about success achieved increating a global reserve system.THEORY :-In the present article Explicit theoretical framework has been used. This framework isused while writing an article and in the present article concepts have been mentioned with theirspecific definition and references from relevant and appropriate literature sources have been
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