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Technological Innovations and Global Trade of Services
Technological innovations may give the U.S. a significant advantage in the global trade of services, which could potentially help the U.S. close its trade deficit.
Shifts in U.S. Trade Balance and Industrialization
As the U.S. has industrialized, changes in comparative advantage relative to those of other nations have led to periods of persistent trade surpluses and deficits.
The Role of Innovations in Global Trade: The Shipping Container
A simple trade innovation—the use of shipping containers—may have contributed to the rapid expansion of global trade over the past 50 years.