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What types of international transactions are recorded in the balance of payment accounts?
Local Businesses
Small-scale enterprises that serve the local community, often characterized by their local ownership, operation, and limited geographical market reach.
Flat World
The idea that globalisation has led to a level playing field in terms of commerce, enabling all countries to compete equally.
Thomas Friedman
An American journalist, author, and three-time Pulitzer Prize winner known for his writings on globalization and technology.
Global Integration
The process of designing and implementing strategies to operate seamlessly across national borders, often involving the coordination of production, marketing, and R&D worldwide.
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