Towards a New Bretton Woods

Challenges for the World Financial and Trading System: Selected Backgound Papers Prepared for a Commonwealth Study Group, Volume I and II

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Summary of the International Trading System's Problems

The problems of the system of international trade may be said co be of two kinds. On the one hand there are those caused by exogenous shocks and stresses, like wars and large, autonomous changes in key commodity prices, as well as by cyclical movements. On the other hand there are the difficulties inherent in the system itself: the endogenous problems.


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