What are the flows of international economic exchange system?
Answers
1. The Concepts and Classifications of International Capital Flows1.1. The Concepts of International Capital FlowsInternational capital flows mainly refer to the paid transfer of the right of the use of monetary capital between countries [1] . International capital flows are traded primarily through international and domestic financial markets, such as borrowing money or investing. As for the classification of international capital flows, according to the length of using capital, they are classified into long-term capital flows and short-term capital flows.
Despite emergency measures such as cutbacks in expenditure and increased taxation, the situation did not improve in England. So England decided to leave the Gold Standard. Immediately a great number of countries left the gold standard. Each nation adopted a policy of protectionism and devaluation of currency. Devaluation forced creditors to stop lending. This led to a world-wide credit contraction. Thus the defensive measures adopted by various nations to safeguard their economic interests led to an unprecedented decline in world economic activity. As its effect was deep and prolonged economists and historians call it the Great Depression.
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