What inaugurated an era of unprecedented growth of trade and incomes for the Western industrial nations and Japan?

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Mass production

Abolition of Corn Laws

MNCs

Bretton Woods system

answer is D.

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Detailed Solution

The Bretton Woods system inaugurated an era of unprecedented growth in trade and incomes for the Western industrial nations and Japan.
For the Western industrial countries and Japan, the Bretton Woods system began an era of extraordinary development in trade and income. Between 1950 and 1970, annual growth in world trade was over 8%, and annual growth in income was close to 5%. Additionally, the increase was largely consistent and lacked significant fluctuations. In most industrialized nations during much of this time, the unemployment rate, for instance, averaged less than 5%. Additionally, during these decades, business and technology spread globally. Large sums of money were invested by developing nations in the importation of industrial machinery and technology.

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