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Q.

The ____ system was developed by representatives during the United Nations Monetary and Financial Conference.


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Detailed Solution

The Bretton Woods system was developed by representatives during the United Nations Monetary and Financial Conference. It took place in July 1944 at the Mount Washington Hotel in Bretton Woods, New Hampshire. After World War II, these nations saw the potential for a new international order that would build on the lessons learned from the previous gold standards and the Great Depression while allowing for postwar reconstruction. For countries that had been erecting barriers between their economy for more than ten years, it was an extraordinary cooperation effort.
 
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