Question
The United States currently boasts a massive trade deficit, however, the news is not all bad. We do import much more products than we export,
The United States currently boasts a massive trade deficit, however, the news is not all bad. We do import much more products than we export, but we do have a major surplus in services such as business services, accounting, finance, insurance, entertainment, and education. Many economists argue that this is part of natural economic development, industrial countries will all eventually outsource as much production as they can and focus on offering services. Others argue that a strong manufacturing base is a necessity for a healthy economy and that countries actually have to produce things in order to be stable. In the future, do you think that the United States will need to begin producing more products again? Does the US need to focus on bringing manufacturing jobs back to the country? Finally, one of our biggest "exports" in services is higher education. Do you believe that this will continue into the future, or do you think that other countries will be able to copy the US University model and create more of their own colleges to prevent their students from studying in the US?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started