宋利芳《经济学专业英语教程（第四版·上）》Unit 12.pptVIP

Unit TwelveText: The Balance of Payments（国际收支） 1. Key words2. Definition and importance of the balance of payments3. Economic factors affecting the balance of payments4. Principles and composition of the balance of payments5. Ways of looking at the balance of payments6. Translate the following into Chinese7. Questions 1. Key wordsinternational financebalance of paymentsnon-residentspot exchange ratemerchandise exports and importsinflows and outflowspropensity to importIMFdebit itemcredit itemdouble entry bookkeeping systembank accountunilateral or unrequited transfersocial securitygovernment-to-government grantscurrent accountcapital accountofficial reserves accountmerchandise tradetrade balancelong-term loantrade deficitofficial settlements balanceinternational reservescentral bank 2. Definition and importance of the balance of payments2.1 Definition of the balance of payments2.2 Importance of the balance of payments 2.1 Definition of the balance of paymentsThe balance of payments is the record of the economic and financial flows that take place over a specified time period (usually one calendar year) between residents and non-residents of a given country. 2.2 Importance of the balance of paymentsDemonstrating the healthiness of a country’s currency. Long term currency movements and exchange rate changes can be predicted from the analysis of such data. Reporting information about the exportation and importation of goods and services. The exportation of these items provides a supply of foreign exchange while the importation of them provides demand for foreign exchange.helping in the forecast of a country’s market potential in the short run. A country with a serious deficit is not likely to import as much as if it has a surplus. Showing pressure on the country’s foreign exchange rate and the potential for gains and losses for a firm trading or investing in that country. Continuing deficits may signal future government controls on outgoing capital movements, e.g.,