Do we need another book on 'Bretton Woods', the conference in 1944 in New Hampshire that established a new monetary system following World War II? The answer is yes...Today the monetary question needs to be posed somewhat differently: For how much longer can the world's chief debtor - the United States - continue to supply the international monetary system with its main reserve asset, the dollar? The Bretton Woods system was an Amglo-American creation. Its successor - if there is one - will be negotiated between America and China.
