A Bretton Woods that never was
Calls for a "new Bretton Woods" are to be heard whenever the international monetary system suffers a bout of turbulence. In fact, a blueprint of sorts for a revised global fixed exchange rate system has been sitting on shelves for the last three decades. It is the report of the Committee of Twenty (C20), a multinational body that spent 21 months working on how to put Humpty Dumpty back together again in the aftermath of the breakdown of the Bretton Woods system in 1971. Next month is the 30th
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