How did the Bretton Woods system collapse giving birth to Globalisation?



Despite years of stable and rapid growth, not all was well in the post-war world.
From the 1960s, the rising cost of US overseas involvement weakened its financial and its competitive strength.
The US dollar now no longer commanded confidence as the world’s principal currency. It could not maintain its value in relation to gold.
This ultimately led to the collapse of fixed exchange rates and the introduction of a system of
floating exchange rates.