The severe economic difficulties and "dollar shortage" that emerged after World War II were obstacles to the establishment of the Bretton Woods system in Western Europe. In the context of the outbreak of the Cold War, the United States made compromises and concessions in the formulation of the Marshall Plan and downplayed the relationship between economic aid and the goal of international monetary cooperation in Western Europe in order to save the Bretton Woods system. After the implementation of the Marshall Plan, through the Economic Cooperation Agency, the United States strictly controlled the use of dollars in aid to Western European countries, thereby strengthening its ability to intervene in Western Europe's economy, and gradually dominated Western European international monetary cooperation through the establishment of the European Payment Union, and finally established the Bretton Woods system in Western Europe. To a certain extent, the above historical process reflects the consultative nature of the US dollar's hegemony.