One of the more important measures in regard to international economics is the balance of payments. Think of it as a national accounting measure that looks at the flow of goods and services into and out of an economy in a given period of time. It also shows capital flows into and out of a country. Until 1980 the United States tended to run a positive-to-neutral balance of payments position and was a creditor nation. In the course of the past 30 years the United States has moved to a negative balance of payments and to being a debtor nation.
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References
Hellerstein R. & Tille C. (2008 June). The changing nature of the U.S. balance of payments.Current Issues in Economics and Finance 14(4). Retrieved fromhttps://www.newyorkfed.org/medialibrary/media/rese…
Stein H. (2008). Balance of payments.The Concise Encyclopedia of Economics. Retrieved fromhttp://www.econlib.org/library/Enc/BalanceofPaymen…