Opinion: Bretton Woods System – A Call for Reform and Fair Play from the Global South

Opinion | Bretton Woods must listen to calls for justice or dissolve

The Global South is justified in their call for reform in a worldwide financial system that is neither environmentally nor economically viable.

The talks at Bretton Woods were spearheaded by Harry Dexter White, the main representative from the US, and the esteemed British economist, John Maynard Keynes. Keynes unsuccessfully advocated for the establishment of a fresh global currency known as the bancor, but the United States favored utilizing its own currency.

In 1944, the United States held the biggest portion of the world's Gross Domestic Product and served as a significant lender to economies devastated by war. Therefore, it's not unexpected that the Bretton Woods system was predominantly guided and structured by the U.S.