Choose given statement is true/false:

Globalisation was a result of the success of the Bretton Woods institutions.

see full answer

Your Exam Success, Personally Taken Care Of

1:1 expert mentors customize learning to your strength and weaknesses – so you score higher in school , IIT JEE and NEET entrance exams.

An Intiative by Sri Chaitanya

True

False

answer is B.

(Unlock A.I Detailed Solution for FREE)

Best Courses for You

JEE

NEET

Foundation JEE

Foundation NEET

CBSE

Detailed Solution

The above statement is False.
Bretton Woods institutions refer to the twin institutions of the International Monetary Fund(IMF) and the World Bank that were established by the Bretton Woods agreement. However, these institutions were held under the control of the western nations and only benefited them. During the 1960s, the US Dollar weakened and could not retain confidence as a stable currency. Globalisation helped in providing a level playing field to the developing countries. The relocation of MNCs to low-wage developing nations made them undergo rapid economic transformation.
The correct statement would be that globalisation was not the result of the success of the Bretton Woods institutions.

Watch 3-min video & get full concept clarity