The most important financial elements of the new world order consisted of: The Bretton Woods monetary system, which established the dollar as the world’s reserve currency. The IMF and the World Bank, designed to support the new global financial system. New York as the new global financial center. From the European perspective, the key aspect of the new world order was the shift from a balance of power in which the preeminent European powers were on top to a world in which they were exhausted and overshadowed by new superpowers that dwarfed any one European state (especially as their colonies
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