control
The liberalizzazione financial institution
has compiled a compilation
The theory of Bretton Woods II Investor whom only some years ago the new advertising campaign of paradigm has perceived that one l' pompata warm air to brands of stock market of the Nasdaq will be skeptical of new 84 d and m. y s t f y n g t h as an example or l d p r the C and paradigms. But it is foolish to only ignore the theory of Bretton Woods II on the total imbalances of checking account because that it is a new paradigm. It is complex, contrarian and debatable but the theory of Bretton Woods II has been supported from three positive factors of the bases: 1 has explained the ows of Florida of the money and the running interest rates regarding the international commerce model to the past and present; 2 forecasts on the consequences of the models of the international commerce made close the authors were preveggenti; and the 3 authors are economists uential of the infl and credible. Bretton Woods II is l' invention of Michael Dooley, a greater adviser to Deutsche Bank, Folkerts-Landò di David, a
director of control and total head of search for Deutsche Bank and Peter Garber, a total strategist with the bank. For convenience they are often cited like D, & of F; G. From the 1992 Dooley has been an economy university professor all' University of Saint California Cruz.12 in consideration of of general interest in their job and the frequent reviews D, & of F; G has compiled a compilation of the 140 pages of their search and it has rendered it accessible on line.13 for convenience that I refer to the agreements of Bretton Woods of the second world war dell' starter shaft like identification of Bretton Woods, & of F; G supports that in 1944, when Bretton Woods the agreements have been made, the priority was to repair the caused physical devastation from the war and to make to live again the economies of Europe and of Japan it rapes war. When the United States of property more than 70% dell' gold of the world, has had the wealth in order to underwrite the reconstruction of the post-war period and the economic rebirth and was in a position in order to assess that they made. In this relationship the United States were the country of the center or of the center and the war countries it rapes of comprised Europe the Germany, France and l' Italy and Japan was the similar applied construction of periphery.14 To in the colonial relationships of nineteenth and soon twentieth centuries, when the masters of the colonial were the countries of the center and the colonies were the periphery. Dispositions 1944 of Bretton Woods have demanded the cavigliare countries formally the exchange rates of their currencies to the dollar and carry out the rates the exchange xed fi. The periphery countries have adopted a export-main strategy of recovery, have maintained to their costs of the labor low and introduced currency commandos and have maintained their currencies underrated. More ulteriorly, evit to diare to resupply ation of domestic fuel of the infl, when payments for their exports have been received, till the point in which possible era, the deep ones have been accumulated like reservoirs of the dollar. In the course of the years, while the economies of the old periphery have recovered, liberalizzazione their currency policies and finally are united and concurrent to the prosperosi countries of the center and, when that phase has been caught up, the dispositions of Bretton Woods of world war dell' starter shaft has broken off itself in on. If we now make the question if difficulty experienced after the second world war when countries in old the rst of fi of the periphery have adopted a export-main strategy of development it has been worth the pain to resist the dollar standard and `Defi CIT without 85 breaches the answer is obviously that they were.
It has not taken for the initiatives of the post-war period of recovery to the restoration pr0sperity long and, from then, the old countries of the periphery have gone from resistance to resistance. While the Cold War era D still in progress, & of F; G discusses that one when old the countries of the periphery have joined the countries of the center were candidates in order to compose the new periphery here. But that all are changed when the Cold War has been concluded and emerging L' Asia has been transformed in the new periphery. The countries in the new periphery now follow a similar export-main strategy of development, maintain their costs of the labor low, their reservoirs in dollars and, if necessary to maintain their currencies underrated, take part in the currency markets. The total priority of century of the rst of venti-fi of key is program of China in order urbanizzare 200 million laborers. But, as China can only absorb 10 million new laborers a l' year, D, & of F; G supports that Bretton Woods II can alone last 20 years of support from China and, in any case, from other countries will maintain emerged it to go for the decades. D, & OF F; The rst of G fi it has published their opinions in 2003 as test on the made system to live again of Bretton Woods. A short one extracted that it introduces the test reads: L' economic emersione of the periphery xed fi of exchange rate in Asia has red-establish the United States as the country to concentrate in the international of Bretton Woods arranges monetary. The normal development of international the monetary system is involved l' emersione of the periphery for which the strategy of development it is supported export-main development from the underrated exchange rates, from the controls of the capital flows them and from the ows it happens them cial of the outfl of offi under form d' accumulation of the claims dell' activity of reservoir on the country to concentrate. The happened one of this strategy in the stimulus of the economic development
allows that the periphery lauri to the center. The liberalizzazione financial institution, in its turn, demands the exchange rates oating of Florida between the countries to concentrate. But there is a line of countries that attend in order to follow today l' Europe of the 1950s/60s and dell' Asia suffi cient to maintain to the intact system for future.15 expectable a concept key in D, & of F; L' analysis of G of the monetary system current is dollars US those of the `Of the earned has replaced l' gold like l' last activity of reservoir. The dollars are earned of the `when the physical delivery of a shipment is carried out and an invoice of the dollar becomes payable. Moreover obligation of the exporter discusses those money from the new periphery held in dollars in the bank about the United States servisce loan to assure it. This argument has sure resonance since China is still a communist country and the property rights are not good protecting. But it is most unusual so that the debtor supplies the loan to the creditor. A normal disposition of emergency is viceversa. There is moreover worry approximately from if the model of Florida of saving that must the pæsi in via of development in the United States, a phenomenon that has been described like Florida of the money that must in climb, can be supported. Miranda Xafa, a member of the executive council of the FMI (International Monetary Fund), it is one of those who believes that it can. It has written:
