July 24, 2014

A Chinese Gold Standard?

Kwasi Kwarteng, New York Times

The Associated Press

While the 70th anniversary of D-Day last month received a lot of attention, another event, in July 1944 — the Bretton Woods conference, named for the mountain resort in New Hampshire where it was held — was perhaps even more significant in shaping the modern world. It not only led to the creation of what are now the International Monetary Fund and the World Bank, but it also confirmed the central position of the United States dollar in the international monetary system.

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TAGGED: Gold, China, Bretton Woods

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