1. Bretton Woods institutions are the International Monetary Fund and the World Bank, which is leading the international monetary and financial institutions, the most important element of the modern institutional structure of international monetary relations (Claude, Sharp and Egger, 2016). They got their name from the American town of Bretton Woods, where in 1944 an international monetary and financial conference at which it was decided on the establishment of these two institutions. The International Monetary Fund is an international monetary organization whose purpose is to promote international trade and monetary cooperation by establishing norms regulating exchange rates and monitor ...
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Significant Distinctions between Economic Growth and Economic Development
Economic growth measures the amount of money that is changing hands in the economy. It thus refers to the rise in the value of everything that is produced in the economy. Growth takes place when the worth and number of commercial transactions increase in the economy. Economic expansion does not factor in the magnitude of the informal financial system. The informal financial system which is also the black financial system is an economic action that is unrecorded. Economic growth gauges an increase in real Gross Domestic Product (GDP). It can therefore be expressed in terms of GDP and Gross ...
International Trade Law
Dumping is the practice of selling goods from one country to another at substantially low prices; an action knows to discriminate price between the home market and the foreign market (Kerr 15). On the other hand, a subsidy is the act of distorting how things are run in the market and instead lead to resources being allocated resulting in low production and overall less wealth worldwide (Baker 15). Dumping is not an activity driven and operated by the government, as it is operated by private companies or organization, which they are part of the government or parts of them ...
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ORDER AN ESSAYEstablishment of BRICS was one of the most significant political events of the beginning of the XXI century. BRICS is a group of five fast-developing countries: Brazil, Russia, India, China and South Africa. The organization was founded in June 2006 during the St. Petersburg`s Economic Forum with the participation of the Ministers of Economy of Brazil, Russia, India and China. Before the inclusion of South Africa in 2010, the organization was known as BRIC. For the first time the acronym BRIC was proposed by Jim O'Neill Goldman Sachs`s Bank analyst in November 2001. The sequence of letters ...
