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The formal dining room of the Mount Washington Hotel, first opened in 1902, awaits diners in Bretton Woods, New Hampshire on January 4, 2007. The hotel is best known as the site where the International Monetary Fund and World Bank were created.
The formal dining room of the Mount Washington Hotel, first opened in 1902, awaits diners in Bretton Woods, New Hampshire on January 4, 2007. The hotel is best known as the site where the International Monetary Fund and World Bank were created.
(BRIAN SNYDER/REUTERS)

Bretton Woods and the collapse of global economic policy

Exactly seventy years ago, delegates from 44 countries were wrapping up work on a new world order. The next day, July 22, 1944, the attendees of the Bretton Woods conference agreed to regulate international exchange rates; to create the International Monetary Fund and the World Bank; and to lay the groundwork for what would become the World Trade Organization.