France: The new financial system In Paris, France, people from more than 100 countries and groups that deal with money are meeting to talk...

 

France: The new financial system

In Paris, France, people from more than 100 countries and groups that deal with money are meeting to talk about making a new joint financial system.

President Emmanuel Macron, who is holding the meeting, said that this idea will help the world fight poverty and solve the problem of climate change. Macron wants to fix the international financial system as soon as possible. This system started with the Bretton Woods deal in 1944, which led to the creation of the IMF and the World Bank.

One of the people at the two-day meeting is German President Olaf Scholz. Another is Chinese Prime Minister Li Qiang. In fact, China is one of the biggest creditor countries in the world, and it is often blamed for not taking part in the reform of its financial relationships with the West.