The Balance of Payments: Tracking Global Money Flow
Student Worksheet
The capital account is the balance of payments' smallest piece, covering things like debt forgiveness, transfers migrants carry with them when they relocate, and the sale of patents and other assets that aren't physical or financial. Germany's decade-long current account surplus has drawn criticism from its EU neighbors, that run deficits, and a sudden financial account surplus can signal hot money that pushes central banks toward rate hikes.
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