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- International_Clearing_Union abstract "The International Clearing Union (ICU) was one of the institutions proposed to be set up at the 1944 United Nations Monetary and Financial Conference at Bretton Woods, New Hampshire, in the United States, by British economist John Maynard Keynes. Its aim was to have been regulation of currency exchange, a role eventually taken by the International Monetary Fund (IMF). The International Clearing Union (ICU) would be a global bank whose job would be the clearance of trade between nations. All international trade would be denominated in its own unit of account, the proposed bancor. The bancor was to have had a fixed exchange rate with national currencies, and would have been used to measure the balance of trade between nations. Every good exported would add bancors to a country's account, every good imported would subtract them. Each nation would be incentivized to keep their bancor balance close to zero. If a nation had too high a bancor surplus the ICU would take a percentage of that surplus and put it into the Clearing Union's Reserve Fund; this would encourage nations with surpluses to buy other nations' exports. Nations that imported more than they exported would have their currency depreciated against the bancor; encouraging other nations to buy their products, and making imports more expensive. Gold and national currency would no longer be used in international trade and no longer move between countries. George Monbiot, a contemporary critic of the IMF, has argued that the ICU's proposed mechanisms would have given greater weight in decision-making to the less-developed countries, which were not then as heavily involved in international trade as they are now.".
- International_Clearing_Union wikiPageExternalLink international-clearing-union.
- International_Clearing_Union wikiPageExternalLink clearing-up-this-mess.
- International_Clearing_Union wikiPageID "2623934".
- International_Clearing_Union wikiPageRevisionID "578386618".
- International_Clearing_Union hasPhotoCollection International_Clearing_Union.
- International_Clearing_Union subject Category:Gold_standard.
- International_Clearing_Union subject Category:International_economic_organizations.
- International_Clearing_Union subject Category:Keynesian_economics.
- International_Clearing_Union type Abstraction100002137.
- International_Clearing_Union type Group100031264.
- International_Clearing_Union type InternationalEconomicOrganizations.
- International_Clearing_Union type Organization108008335.
- International_Clearing_Union type SocialGroup107950920.
- International_Clearing_Union type YagoLegalActor.
- International_Clearing_Union type YagoLegalActorGeo.
- International_Clearing_Union type YagoPermanentlyLocatedEntity.
- International_Clearing_Union comment "The International Clearing Union (ICU) was one of the institutions proposed to be set up at the 1944 United Nations Monetary and Financial Conference at Bretton Woods, New Hampshire, in the United States, by British economist John Maynard Keynes. Its aim was to have been regulation of currency exchange, a role eventually taken by the International Monetary Fund (IMF). The International Clearing Union (ICU) would be a global bank whose job would be the clearance of trade between nations.".
- International_Clearing_Union label "International Clearing Union".
- International_Clearing_Union label "International Clearing Union".
- International_Clearing_Union label "Międzynarodowa Unia Clearingowa".
- International_Clearing_Union sameAs International_Clearing_Union.
- International_Clearing_Union sameAs Międzynarodowa_Unia_Clearingowa.
- International_Clearing_Union sameAs m.07sj1x.
- International_Clearing_Union sameAs Q6049301.
- International_Clearing_Union sameAs Q6049301.
- International_Clearing_Union sameAs International_Clearing_Union.
- International_Clearing_Union wasDerivedFrom International_Clearing_Union?oldid=578386618.
- International_Clearing_Union isPrimaryTopicOf International_Clearing_Union.