The Next Bretton Woods
It took the world 15 years and a world war to come together to address the weaknesses in the global financial system that contributed to the Great Depression. Given the level of global interdependence today, we cannot afford to wait that long to address the causes of the current crisis.
NEW YORK – The world is sinking into a major global slowdown, likely to be the worst in a quarter-century, perhaps since the Great Depression. This crisis was “made in America,” in more than one sense.