1.The seventh dollar crisis broke out in July, 197 1. /kloc-In August of 0/5, the Nixon administration announced the implementation of the "new economic policy" and stopped fulfilling the obligation of foreign governments or central banks to exchange dollars for gold. This means that the dollar is decoupled from gold, and one of the two pillars supporting the international monetary system has collapsed. March 1973, another wave of selling dollars and snapping up gold and marks in western Europe. On March 16, 2006, Europe * * * held a meeting with nine market countries in Paris and reached an agreement. The Federal Republic of Germany, France and other countries have "jointly floated" the US dollar and fixed their exchange rates with each other. All these signs indicate that the Bretton Woods system cannot exist for a long time, and it will be replaced by a superior monetary system. At this point, the fixed exchange rate system, another pillar supporting the international monetary system after the war, also completely collapsed. This declared the final disintegration of the Bretton Woods system.

Second, 1973, the fourth Middle East war broke out. Arab countries used oil weapons, imposed an oil embargo on countries that supported Israel, cut oil production and substantially raised oil prices, which triggered the worst economic crisis in the post-war capitalist world. The American economy declined, and the dominance of the world economy was shaken. 1975, the economic crisis ended.

Three. 1972 65438+1October 22nd, * * six countries signed the Brussels Treaty of joining the * * institutions with Britain, Ireland, Denmark and Norway respectively. 1 97365438+1October1The treaty came into effect, and Britain, Ireland and Denmark officially became members of the European Union (Norway did not join because the treaty was not adopted in the referendum). The population of nine European countries is 256 million, the export trade is 265.438+000 billion dollars, and the foreign exchange reserves of gold are 60.62 billion dollars, all of which have surpassed those of the United States and the Soviet Union, and the gross national product is 65.438+006.5 billion dollars, which is 77.7% of that of the United States. Nixon exclaimed that "the United States has been challenged" and "the relationship between the United States and Europe must be changed."

At the end of 1978, the Third Plenary Session of the Eleventh Central Committee of China made a great decision to shift the work center of the party and the state to economic construction and implement reform and opening up.