国际商务第六章.pptVIP

Chapter 6 The Balance of Payments Learning Objectives To understand the fundamental principles of how countries measure international business activity, the balance of payments To examine the similarities of the current and capital accounts of the balance of payments To understand the critical differences between trade in merchandise and services and why international investment activity has recently been controversial in the United States To review the mechanical steps of how exchange rates are transmitted into altered trade prices and eventually trade volumes To understand how countries with different government policies toward international trade and investments, or different levels of economic development, differ in their balance of payments Introduction The measurement of all international economic transactions between the residents of a country and foreign residents is called the balance of payments (BOP) The two major sub accounts of the balance of payments are: Current account Capital account Fundamentals of Balance of Payments Accounting The balance of payments must balance Subaccounts may be imbalanced Three main elements to the process of measuring international economic activity include: Identifying what is and is not an international economic transaction Understanding how the flow of goods, services, assets, and money creates debits and credits to the overall BOP Understanding the bookkeeping procedures for BOP accounting Defining International Transactions Identifying many international transactions is ordinarily not difficult However, some international transactions are not obvious The BOP as a Flow Statement The BOP is often believed to be a balance sheet rather than a cash flow statement There are two types of business transactions that dominate the BOP: Real assets Financial assets BOP Accounting: Double-Entry Bookkeeping BOP employs an accounting technique called double-entry bookkeeping In this age-old method every