International financing
(1) Based on the fund system. The fund is at least $5 billion, which shall be paid by the member countries in accordance with the prescribed share. The share is determined by the gold foreign exchange reserves, balance of payments and national income of member countries.
(2) The fund currency is linked to the US dollar and gold. The monetary unit used in the fund is UNITA, and each UNITA is equal to US$ 65,438+00 or contains 65,438+037 grains of pure gold (65,438+0 grains =0.0648 g of pure gold).
(3) The voting right depends on the share paid by the member countries. The right to speak and vote in the IMF is directly proportional to the fund shares paid by member countries.
(4) Stabilize the currency exchange rate. The currencies of member countries should maintain a fixed parity with UNITA, and the currencies of member countries should not depreciate without the approval of three-quarters of the voting rights of IMF member countries.
(5) Abolish discriminatory measures such as foreign exchange control, bilateral settlement and re-exchange rate.
(6) adjusting the balance of payments. Provide short-term credit to member countries to solve the balance of payments deficit.
(7) The office of the Fund is located in the country with the largest share.
The White Plan attempts to control the "United Nations Stability Fund" by the United States, so that the currencies of member countries are "linked" to the US dollar through the "Fund". The plan is also based on the abolition of foreign exchange control and international capital transfer restrictions in various countries.
2. The Keynesian Plan is the "International Settlement Union Plan" drawn up by Keynes, an adviser to the British Treasury. The main contents are:
(l) Establish an "international settlement union" equivalent to the World Bank.
(2) Central banks of member countries open current accounts in the Union, through which the official external creditor's rights and debts of various countries are settled by transfer.
(3) Surplus countries deposit their surpluses into accounts, while deficit countries can apply to the Union for overdraft or deposit their shares according to regulations.
(4) The bookkeeping unit of "Alliance" account is "Bancor", and its value is calculated in gold. Member States can exchange gold for "Banco", but they cannot exchange "Banco" for gold.
(5) The currencies of all countries are denominated in "Banco" and cannot be changed without the approval of the Union Council.
(6) The share of the members of the "Alliance" is calculated according to 75% of the average import and export trade volume in the three years before the war.
(7) The "Alliance" is headquartered in London and new york, and the board meetings are held alternately in Britain and the United States.
The Keith plan was based on the plight of Britain at that time, trying to minimize the role of gold. This plan actually advocates the resumption of multilateral settlement and the cancellation of bilateral settlement. Of course, this also exposes the intention of Britain and the United States to share international financial leadership.
When the Dambray Woods system was established, there were two schemes. One is the White Plan, which is an international stability fund plan put forward by US Treasury official White. This scheme adopts the principle of deposit, that is, the establishment of an international monetary stability fund with a total amount of 5 billion US dollars; One is the Keynesian plan, which advocates the overdraft principle and establishes a world-wide central bank called the International Settlement Union.
The similarity between the two is that they both focus on solving the current account imbalance; They all focus on the capital needs of industrialized countries; They all seek the stability of the exchange rate and prevent the competitive devaluation of the exchange rate.