Hush...Let's not talk about America's huge trade surplus in services

Hush...Let's not talk about America's huge trade surplus in services

Editor's note: Warwick Powell is an Adjunct Professor at Queensland University of Technology and a Senior Fellow at Taihe Institute, Beijing. The article reflects the author's opinions and not necessarily the views of CGTN.The centrepiece of US President

America’s $300 Billion Annual Trade SURPLUS in Services

Over the past 20 years, the U.S. has run a near $5 trillion surplus in financial, digital and other tech “services” that are often not counted or undercounted in our trade deficit figures. According to a 2023 analysis by the Council of Economic Advisers, “Digitally-enabled services encompass those services predominantly delivered over information and communication technologies (ICT) networks. Some examples of digitally-enabled services include l…