The World Economy

Download or read book Managing the World Economy written by Peter B. Kenen and published by Peterson Institute for International Economics. This book was released on 1994 with total page 452 pages. Available in PDF, EPUB and Kindle. Book excerpt: The international economic order established at Bretton Woods, New Hampshire in 1944 has contributed significantly to world growth and stability. But the world economy will be very different in the 21st century due to the end of the Cold War, the advent of new economic powers, and the globalization of markets and companies. The Group of Seven major industrial democracies, at their Naples summit in July 1994, decided to consider "What framework of institutions will be required to meet the challenges of the 21st century?" and "How can we adapt existing institutions and build new institutions to ensure the future prosperity and security of our people?"