Reforming the Bretton Woods System: The Main Ways
In 1944, the Bretton Woods System was de facto created by two states (the United States and Britain), which at that time had the authority and resources to impose their will on four dozen states that were guided by them during the world war. Today there is no state or group of countries on the planet capable of imposing its will on the entire world community. A new or radically reformed Bretton Woods, of course, should take into account the opinion of all the states of the planet, regardless of their size. The solution of such a problem through negotiations will last for many years, while the likelihood of success will be minimal, writes Valdai Club expert Stanislav Tkachenko.