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Free movement of capital and payments

Full freedom of movement for capital and payments has so far only been approached between individual pairings of states which have free trade agreements and relative freedom from capital controls, such as Canada and the US, or the complete freedom within regions such as the EU, with its "Four Freedoms" and the Eurozone. During the First Age of Globalization that was brought to an end by World War I, there were very few restrictions on the movement of capital, but all major economies except for the United Kingdom and the Netherlands heavily restricted payments for goods by the use of current account controls such as tariffs and duties.