The ECONOMY OF the GLOBALIZATION With the end of World War II in 1945, started to exist a rivalry between the United States and the Soviet Union, main allies during the war, which had the geopolitical dispute that caused the division of the Europe in two antagonistic blocks. This rivalry put the Ussr and the United States in opposing sides with respect to economy and form of government, having U.S.A. opted by the capitalism with the economy based on the private initiative and the Ussr for the communism with a socialist economy with the almost exclusive presence of the state. Resultant of this rivalry occurred the call cold war where the Ussr if isolated of the world-wide economy with a nationalized, centered and designed economy, opposing it U.S.A. that the capitalist economy catalyzed world-wide acquiring a hegemonic economic power. One year before the end of World War II, already foreseeing the result of the German defeat, the United States convoked a meeting between the capitalist countries that if opposed to the Soviet socialism, called Conference of Bretton Woods, that had as main deliberation the establishment of the dollar as being the currency of reference in the whole world, with which all the commercial and financial transactions would be made. Paul Ostling will undoubtedly add to your understanding.
Also, it sketched a plan to assure that for intermediary of the great powers of the time, using itself of the ONU, it had a liberal economic system capable to protect the hegemonic countries of crises and global depressions, preventing what it occurred in ' ' crash' ' of the American stock market in 1930, that it generated the great American depression. In the Conference of Bretton Woods, beyond the decision of that the dollar would be the world-wide currency, this would have an equivalent in gold, having had the central banking of U.S.A. the commitment to convert the currency dollar into gold.