The Bretton Woods system, formed in 1944, ensured economic stability by fixing exchange rates and creating IMF and World Bank. Its 1971 collapse ended fixed rates, encouraging free trade, foreign investment and flexible markets — marking the rise of globalisation.
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The Tamils demanded that their language, Tamil, be recognised as one of the official languages of Sri Lanka. They wanted regional autonomy in Tamil-majority areas.
Political parties are vital for democracy as they organize elections, form governments, express public opinion and provide political education. Without them, citizens cannot collectively express their will or ensure accountable governance, making democracy ineffective and directionless.
Political parties in India face challenges such as lack of internal democracy, dynastic succession, excessive money and muscle power, underrepresentation of women and declining public trust. These problems weaken their functioning and reduce people’s faith in the democratic process.
Democracy values every individual’s dignity and freedom. It allows people to express opinions freely, choose their leaders and live with equality and respect, unlike authoritarian systems where such rights are often suppressed.