The bretton wood system ended in early 1970 because of the following reasons-->
1. US Dollar no longer commanded confidence
2. multinational companies turned to China due to its low wages.
3. industrial world was hit by unemployment.
4. collapse of fixed exchange rates on floating exchange rates.
5. US dollar could not maintain its value in the relation to gold.
6. decline in economy of the USA.
7. exchange in international financial System.
8. unemployment in industrialized countries.

Factors that led to the end of the Bretton Woods system:

1. Imbalance of Payments:
The Bretton Woods system established fixed exchange rates pegged to the U.S. dollar, which was in turn backed by gold. However, as the global economy grew, some countries struggled to maintain a balance of payments. Persistent trade deficits and a loss of gold reserves led to a decline in confidence in the system.

2. Speculative Attacks:
During the 1960s and early 1970s, there were several speculative attacks on major currencies, particularly the U.S. dollar. Traders started to doubt the ability of the U.S. to maintain the gold convertibility of its currency at the fixed rate, leading to massive selling of dollars and increasing pressure on the system.

3. Inflation:
The Bretton Woods system placed limitations on countries' ability to adjust their domestic monetary policies to combat inflation. As inflationary pressures increased globally, maintaining fixed exchange rates became increasingly challenging. Some countries resorted to devaluing their currencies, which created further instability in the system.

4. U.S. Balance of Payments Issues:
The United States, as the anchor of the system, faced significant balance of payments issues. High government spending on the Vietnam War and social programs, coupled with a growing trade deficit, put pressure on the U.S. dollar. The U.S. government faced difficulties in maintaining the gold convertibility of its currency.

5. Nixon Shock:
In 1971, U.S. President Richard Nixon announced a series of measures, known as the "Nixon Shock," which effectively ended the Bretton Woods system. The U.S. unilaterally suspended the convertibility of dollars into gold, leading to a shift towards floating exchange rates. This decision was made to protect the U.S. gold reserves from depletion.

6. Emergence of Floating Exchange Rates:
Following the Nixon Shock, countries transitioned towards floating exchange rates, where the value of currencies was determined by market forces rather than fixed rates. This allowed for greater flexibility in monetary policy and adjustment to economic conditions. The Bretton Woods system was no longer able to cope with the increasing global economic interdependence and the changing economic landscape.

In conclusion, a combination of factors, including imbalances of payments, speculative attacks, inflation, U.S. balance of payments issues, the Nixon Shock, and the emergence of floating exchange rates, led to the end of the Bretton Woods system. The system proved unsustainable in the face of evolving global economic conditions and the need for more flexible exchange rate mechanisms.