China Trade Gap With U.S. in Services Grows on Travel, Education
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China, which has a record trade surplus with the U.S., has a growing deficit in trade in services as it sends more students and travelers abroad, according to a report from the Commerce Department.
“The U.S. services surplus with China has accelerated rapidly since 2007, from $2.4 billion to $10.4 billion in 2010,” according to a report by Commerce Department economists David Payne and Fenwick Yu that is being released today in Washington.