In the KBS special three-part documentary "World 1945," actor Kim Seo-hyung, who is in charge of narration, shares the secrets of how the dollar became an economic hegemony after World War II and the journey behind it.
The final story of the KBS1 special three-part documentary "World 1945 (planned by Son Jong-ho, executive producer Lee Gi-yeon, producer Kim Jong-seok, directed by Jeong Beom-soo, Park Nam-yong, Kim Do-won, and Kim Sang-beom)" is "The Weight of the Crown, the Dollar," which focuses on the "Bretton Woods system." The Bretton Woods system was the result of the first-ever meeting where countries and governments came together to agree upon an international currency and economic system.
At that time, U.S. President Roosevelt was deeply invested in this meeting, sending a delegation of more than 60 representatives. The main opponent was the United Kingdom. Among the British negotiating team was John Maynard Keynes, author of the textbook "The General Theory of Employment, Interest, and Money." Keynes was a prominent figure in the British government, and after the war, he proposed a system using one international currency, the "bancor," by establishing a central bank that would become the axis of the world economy. However, Harry Dexter White of the U.S. delegation aimed to make the dollar the world's reserve currency.
The United Kingdom and the United States agreed that a single bank and currency were necessary for post-war reconstruction. However, as there could not be two main characters, Keynes and White clashed intensely. Keynes remarked, "White's plan for a reconstruction bank is either the work of a madman or a vicious joke," while White also stated, "In my opinion, the United Kingdom is finished."
Amid several fierce and angry exchanges between the British and U.S. delegations, the behind-the-scenes story of how the U.S. dollar ultimately became a global hegemony will be revealed in the KBS1 broadcast of "World 1945: The Weight of the Crown, the Dollar" on the 24th.
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