Exchange Rates and the International Financial System

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Exchange Rates and the International Financial System INTERNATIONAL LINKAGES The’ twentieth century divides into two distinct periods. The period from 1914 .to 1945 was.characterized by destructive competition, shrinking international trade, growing financial isolation, hot and cold military and trade wars. despotism, and depression. After World War II, most of the world enjoyed growing economic cooperation, widening trade linkages, increasingly integrated […]