In 1944, the global economy was in shambles. Forty-four nations gathered in Bretton Woods, New Hampshire, to discuss how to rebuild an economy devastated by protracted depression and two World Wars. From these discussions emerged a 1947 agreement on a lasting framework for post-war commercial relations whereby trade barriers were contained and then gradually reduced over time.
About Michael Unger
Michael L. Unger is an adjunct fellow with the William M. Scholl Chair in International Business at CSIS. From 1971 to 1996, Dr. Unger was an international economist at the U.S. Department of the Treasury and the U.S. Agency for International Development (USAID). He negotiated in the Uruguay Round.