Bretton Woods Conference Outcomes
The Bretton Woods Conference, held in July 1944, aimed to establish the post-World War II international economic system. Key decisions were made regarding international financial institutions and cooperation.
Analysis of Options
- Option 1 & 2: IMF and IBRD Creation
The conference directly led to the creation of the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development (IBRD), now part of the World Bank Group. The Articles of Agreement for both institutions were drafted and adopted at Bretton Woods. - Option 3: International Cooperation
A primary goal of the Bretton Woods Conference was to foster international economic cooperation and stability, preventing the economic nationalism that contributed to the war. - Option 4: WTO Proposal
The World Trade Organization (WTO) was established much later, in 1995. While the Bretton Woods system laid groundwork for trade liberalization (initially through the Havana Charter and later GATT), it did not recommend or propose the creation of the WTO itself in 1944.
Conclusion
Therefore, the recommendation of a proposal to create the WTO in the future was not a direct result of the Bretton Woods Conference in 1944.
Important Questions from International Economic institutions
General Agreement on Tariffs and Trade was formalised in the year:
In which of the following years was ADB (Asian Development Bank) established?
What is the CORRECT sequence of the following?
A. Uruguay Round
B. Kennedy Round
C. Doha Round
D. Geneva Round
Choose the correct answer from the options given below
Match List-I with List-II:
List I
(Trade and Finance Institution)
List II
(Headquarters)
a) WTO i) Brussels b) IMF ii) Geneva c) FAO iii) Washington d) EU iv) Rome Choose the correct option from those given below:
Match List I with List II:
List- I
Type of Agreement
List – II
(Explanation)
A.
NAMA
(I)
Liberation of International Investments
B.
GATTs
(II)
Includes industrial goods. textile. jewellery, fish and fisheries products and manufacturing industries
C.
TRIMs
(III)
Liberalisation of trade in goods and services
D.
TRIPs
(IV)
Provides monopoly power to owners of intellectual ‘property
Choose the correct answer from the options given below -
