They insisted on further inserted into the International Division of Labour, which had the pound sterling as standard. a In response, the state of affairs emerged after the Treaty of Versailles 1918, it had spread throughout the world the need for governments to intervene in economic activities, watching all kinds of imbalances that were causing the workings of the market economy, in reality distorted by monopolistic behavior. The most extreme position was obviously that of Soviet Russia. In this climate aflorarian German National Socialism, Italian Fascism and some similar schemes. All the events are reflected in the countries which were not called Latin America. a The same dominant sectors in these countries, who had amassed their fortunes under the "Pax Britannica, failed to apply the benefits of free trade market and pragmatically moved to defend their interests through the creation of state agencies to protect them . "So we were all socialists," says an author of the time (Vilanova). a The dislocation generated at the time (which reminds us so much to what we experienced by this time), took restructuring, to give answers to a multilateral system had collapsed.
Thus the declining England secured its Commonwealth, through a convention to strengthen its economic and financial ties with its system of colonies, which had not yet been broken, if it ever did). This is protocolized through a Treaty signed in Ottawa. Course, like Argentina, it was not a member of the Comonwealth law, this meant that it was out of the alleged advantages of this Treaty.