The 1944 Bretton Woods conference created new institutions for international economic governance. Though flawed, the system led to a golden age in postwar reconstruction, sustained economic growth, job creation, and postcolonial development. Yet financial liberalization since the 1970s has involved deregulation and globalization, which have exacerbated instability, rather than sustained growth. In addition, the failure of Bretton Woods to provide a reserve currency enabled the dollar to fill the void, which has contributed to periodic, massive U.S. trade deficits.
Read More
The Group of 24 (G-24) is composed of Developing Countries and Emerging Markets across Africa, Asia, and Latin America and the Caribbean. The G-24 advocates for the interests of its membership within global financial and economic discussions, particularly in relation to the International Monetary Fund (IMF) and the World Bank
