Describe four principles or organizations brought about by the Bretton Woods Agreement that remain important to international business and trade today. Why does the integration of financial and monetary activity worldwide continue to grow?

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The following principles or organizations were brought about by the Bretton Woods Agreement and remain important to international business and trade today:
a. Bretton Woods instituted the concept of international monetary cooperation, especially among the central banks of leading nations.
b. Bretton Woods also established the notion of fixing exchange rates within an international regime to minimize currency risk.
c. The agreement created the International Monetary Fund (IMF) and the World Bank. The IMF is an international agency that attempts to stabilize currencies by monitoring the foreign exchange systems of member countries, and by lending money to developing economies. The World Bank is an international agency that provides loans and technical assistance to low-and middle-income countries, with the goal of reducing poverty.
d. Finally, Bretton Woods established the importance of currency convertibility in which countries agree to refrain from imposing restrictions on currency trading, and agree not to engage in discriminatory currency arrangements. This principle is an important aspect of the trend toward global free trade that the world is experiencing today.
The growing integration of financial and monetary activity worldwide has several causes, including:
? The evolution of monetary and financial regulations worldwide;
? The development of new technologies and payment systems and the use of the Internet in global financial activities;
? Increased global and regional interdependence of financial markets; and
? The growing role of single-currency systems, such as the euro.