Question: Explain the chart. The events. EXHIBIT 3.7 The Evolution and Eras of the Global Monetary System Fixed Floating Classical Gold Inter-War Exchange Exchange Standard Years

Explain the chart. The events.

EXHIBIT 3.7 The Evolution and Eras of the Global Monetary System Fixed Floating Classical Gold Inter-War Exchange Exchange Standard Years Rates Rates Emerging Era 1870s 1914 1923 1938 1944 1973 1997 1860 18:80 1900 1920 1940 1960 1980 2000 2020 World War I World War II Impact Trade dominated Increased barriers Capital flows Capital flows Selected emerging on capital flows to trade & begin to dominate trade nations open Trade capital flows dominate trade capital markets - - Impact Increased world Protectionism & Expanded open Industrial Capital flows on trade with limited nationalism economies economies drive economic Economies capital flows increasingly development open; emerging nations open slowly

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