balance of trade is a part of balance of payment
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The balance of trade is part of a larger economic unit, the BALANCE OF PAYMENTS (the sum total of all economic transactions between one country and its trading partners around the world), which includes capital movements (money flowing to a country paying high interest rates of return), loan repayment, expenditures by
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THE BALANCE OF TRADE IS PART OF A LARGER ECONOMIC UNIT, THE BALANCE OF PAYMENTS (THE SUM TOTAL OF ALL ECONOMIC TRANSACTIONS BETWEEN ONE COUNTRY AND ITS TRADING PARTNERS AROUND THE WORLD), WHICH INCLUDES CAPITAL MOVEMENTS (MONEY FLOWING TO A COUNTRY PAYING HIGH INTEREST RATES OF RETURN), LOAN REPAYMENT, EXPENDITURES BY ...
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