The U.S. Department of Commerce Department calculates that America’s service sector had a $3.7 billion trade surplus with China last year. In 2005 the surplus was $2.4 billion, up from $515 million in 1992. And by one measure, America’s service-trade surplus could reach $15 billion a year by 2015.
China is now the ninth largest purchaser of American services.
Service exports cover a wide range of economic activities, from parcel shipping to investment banking. Education is one of America’s top service exports with a $1 billion surplus. Advertising, technology, legal services, industrial engineering and other “business, professional and technical services” account for just over a third of the U.S. surplus. Financial services account for another $480 million.
Chinese payments of royalties and licensing fees to U.S. companies, generated a surplus of $1.4 billion in 2006.
Click on the Wall Street Journal article link to see the full story.
The fight was upgrade in Asia.
“Most B2B technology companies have a clear set of competitors they’re battling. But for some (usually early stage) tech companies, there are no other companies to fight: they’re inventing a market. The only competitor is the inertia of the target audience. At first glance, it sounds like a great position to be in. Never facing a head-to-head competitor. Being free from the never-ending features arms race. But in reality, these can be the toughest marketing challenges of them all”
GlobalSaler.com CEO, Xin said that.
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