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Seminar paper from the year 2008 in the subject Politics - International Politics - Topic: Globalization, Political Economics, grade: 1,3, Free University of Berlin (Center for Global Politics), course: International Political Economy, language: English, abstract: Barry Eichengreen and Michael Dooley understand the current international monetary and financial system as "new Bretton Woods System." Global imbalances such as the expanding US current account deficit in combination with a stable US Dollar exchange rate imply that Asia central banks are storing large amounts of US dollars in their international reserve portfolios. It follows a comparison of the new system with the old Bretton Woods framework relating the findings to arising potential for international political conflicts.