21.   But the transition is a rough one for an agency far less comfortable with capital flows than with communist foes.

22.   Capital flows are also different, says David Hale, chief global economist of the Zurich Group, a financial services company.

23.   Capital flows to Zimbabwe dried up, as investors directed their millions to larger, richer South Africa.

24.   Chief among these are the strong capital flows into the United States from Europe, either as portfolio investments in financial markets or as part of mergers and acquisitions.

25.   Currency trading has soared over the past three years on the backs of a dramatic increase in global capital flows spawned by the growing popularity of international investment.

26.   Following is a breakdown of key capital flows in November, as provided by the Bundesbank.

27.   Greater capital flow would be especially helpful, of course, for construction enterprises and many high-tech businesses that tend to depend heavily on capital.

28.   Governments and unions will be powerless to stop this capital flow, which will affect the global balance of economic power.

29.   Greenspan rejected the idea of controls on cross-border capital flows, such as Mahathir has implemented.

30.   He argued against putting controls on international capital flows, a strategy that is being seriously considered by developing nations and one already adopted by Malaysia.