When they talk about trade deficits do they take into account tourism and other cross-border services?
Or is it just goods, and in that case why focus on goods?
replies(3):
Or is it just goods, and in that case why focus on goods?
It’s much easier to measure physical goods crossing customs. It’s very difficult to measure whether that guy in your restaurant was a tourist or not. And that’s the simple case believe it or not…
This is one of the reasons service oriented economies seem to run huge deficits…