Progress towards achieving a quantitative understanding of the exchanges of water between Earth's main water reservoirs is reviewed with emphasis on advances accrued from the latest advances in Earth Observation from space. These exchanges of water between the reservoirs are a result of processes that are at the core of important physical Earth-system feedbacks, which fundamentally control the response of Earth's climate to the greenhouse gas forcing it is now experiencing, and are therefore vital to understanding the future evolution of Earth's climate. The changing nature of global mean sea level (GMSL) is the context for discussion of these exchanges.
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