What led to end of bretton …

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What led to end of bretton wood and beginning of the globalisation ?

Posted by Krish Anand 6 years, 8 months ago

CBSE > Class 10 > Social Science

1 answers

Yogita Ingle 6 years, 8 months ago

From the 1960s..the rising cost of US's overseas involvement weakened it's finances.....the US dollar could not maintain its value and hence it led to the collapse of the system of fixed exchange rates.

this led to periodic debt crisis, lower income and increased poverty in Africa and Latin America.
from late 1970s,MNCs also began to shift production operations to low-wage Asian countries.
As Wages were relatively low in countries like china,it became a favourite destination for investment by foreign MNCs competing to capture world markets.
In the last 2 decades ,countries like China, India and Brazil have achieved rapid economic development.

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