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The Mount Washington Hotel in Bretton Woods, New Hampshire. (Reuters/Brian Snyder)
Throughout history, international orders have been constructed, contested, upended and dismantled. The current international order goes back to the end of World War II. The period before between the two world wars and including the Great Depression that resulted after the 1929 stock market crash had already proven that a multilateral scheme based on a gold exchange standard was not optimal (or even possible, given that gold reserves were primarily held in the central banks of a few states), and, ultimately, it was unfit to respond to a global financial crisis. ....

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