Financial Crisis, The Dollar-dominated International Monetary System

As the superpower in the world, America depends on its comprehensive strength, including Economy, Military and Technology factors. In the International Economy field, the most important regime to America is International Monetary System(IMS),so the IMS is relevant to the rise and decline of America. At the end of Second World War Two, America dominated the IMS's designing and creating, that was the first IMS founded by sovereign state. America dominated The Bretton Woods System(BWS) and set the US dollar as the standard currency, which ensured America of the dominating position in the International Monetary System. So, the BWS is the foundation of America's hegemony in the economic field. Although the BWS breakdown in the 1973, the Jamaica system did not changed America's dominating position, America remain in the central position.This essay aims to find general rule of IMS and using that to analyse the process of America dominating the IMS during the IMS change. Besides that, from history point of view, Since America dominated the IMS, there was no relevant regime limits to constrain America, which make America becoming into a limits free country. Although there was no regime limits to restrict America, the international economy has itself law, America's financial crisis explained the drawback of IMS in the shortage of restriction. So the other aim is that, by explaining the defects of international monetary system, I try to illustrate the abuse that exists in international monetary system dominated by one country and propose a set of reasonable solutions.