Questions for homework:
1. Why was the United Nations created after the failure of the League of Nations.
2. How did the Great Depression of the 1930s lead to the Bretton Woods system.
3. Explain in your own words what the IFM and World Bank is about. In your opinion, what are the positives and negative perceptions of the two organizations.
Welcome to Mr. Sha's Class! 
1. Because World War II had a serious impact on the world, millions of people were dead and millions more homeless, a lot of places had been destroyed. The world cannot have war anymore. But, The United Nations did not succeed in preventing the emergence of war and protecting people. So, 51 countries committed to keep world peace and security, developing friendly relations among nations, try to bring people better-living standards and human rights.
2. It is a cure for the Great Depression, The classic gold standard had been abandoned after World War I. After the 1929 stock market crash, people switched to commodities trading. It drops a lot the price of gold, then led to people changing their dollars to gold. After that, they set up the Bretton Woods, member countries all agreed to redeem its currency for U.S. dollars, not gold. Then they finally solve the problem.
3. These two organizations have complementary effects, IMF monitors the currency and economy of every country. world bank lends money to countries that have payment difficulties and gives help to member countries. But the IMF fails to promote real market reform and both the IMF and World Bank are bankrupt, they cannot continue without a lot of money to help form the member’s countries.
LikeLike