CURRENT TRANSFERS: ECONOMIC GIFTS THAT DEFINE GLOBAL

Current transfers are economic gifts that are made between countries.

These gifts can take many forms, including foreign aid, remittances, and international trade.

Current transfers are an important part of the global economy, as they help to redistribute wealth and resources.

Foreign aid is one of the most common forms of current transfers, and it is often used to help developing countries.

Remittances are another form of current transfers, and they involve money that is sent by individuals working in one country to their families in another country.

International trade is also a form of current transfers, as it involves the exchange of goods and services between countries.

Overall, current transfers play an important role in shaping the global economy and promoting economic growth and development.