The Bear of Bretton Woods
In early April, leading thinkers and former policymakers met in Bretton Woods, New Hampshire, the birthplace in 1944 of the IMF and our dollar-centered international monetary system. This time around, it had already become clear that dollar will have to make way for the euro and renminbi.
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BERKELEY – This is the season for international monetary conferences. In March, national leaders assembled in Nanjing, China, to speechify on exchange and interest rates. And, in early April, leading thinkers and former policymakers met in Bretton Woods, New Hampshire, the birthplace in 1944 of the International Monetary Fund and our dollar-centered international monetary system.