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  • 15 terms

    Term:

    Why was the Us government’s repeal (abrogation) of the Bretton Woods Agreement in 1971 so important for the globalization of the world economy in the years since?

    Definition:

    The repeal of the Bretton Woods Agreement shifted away from a fixed exchange rate to a floating exchange rate. This made US dollar stronger and thus led to consumption and bump up in the US economy. This also started financialization where companies could operate on a national scale and trade started exploding. Also, there was an increase in net foreign investments.

    • Geography 4 Final Study
    • 15 terms
    • Vocabulary for Geography 4 Final Study. Find, create, and access Geography, Globalization, Global Studies, flashcards with Course Hero.

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