3 ms·
Sorry, the word "product" was missleading. Well, obviously the US is not specialized in producing physical goods, but it is the world-leader in the service ind
by emanuer 17y ago
Sorry, the word "product" was missleading.
Well, obviously the US is not specialized in producing physical goods, but it is the world-leader in the service industry. The best Software is developed in the US, the most knowledge created in the past 100 years came from the US. The service market is much bigger than the product market already.
- jeromec 17y agoYes, but you can't export [many services]. So, I'm guessing we should prepare to welcome our new overlords here? Edited: to clarify "service" since people seem intent on downvoting. I wish people would make a counter comment rather than issue a downvote, as that would seem to be more beneficial for everyone involved.
- eevo 17y agoTry telling India that.
- jeromec 17y agoThat's a good point. I suppose we could man some phone banks, and provide digital services as well (although this poses a challenge of learning the host customer's language, instead of expecting everything to be English). However, I still think the majority of services would be in the hospitality industry.
- yummyfajitas 17y agoI accidentally upvoted you. So now I feel obligated to make the obvious point that, um, ever heard of consultants? Outsourcing? That whole Information Superhighway thing wasn't just a fad, you know.
- iamelgringo 17y agoI think that you are thinking of 'service' very narrowly. Every time someone in .Germany searches google or reads HN, the US has exported a very tiny service.
- jeromec 17y agoIt's true that I tend to take a narrow economic view of exported 'service', but that's because the kinds of people displaced by this recession, and the ones likely left out of finding work in a transformed economy would not be the ones that are highly skilled/technically inclined.
- fauigerzigerk 17y agoThat may be true and it's why a GDP recovery is not necessarily a jobs recovery. It could very well be that the US manages to export more, import less oil, turn the current account deficit around, and still suffer from high unemployment.
- jeromec 17y agoI completely agree. I don't know where many jobs would come from, if not created by consumer demand. Even with a weakened dollar American workers will not be on par with Chinese workers, and there won't be enough high paying jobs to go around.