U.S.' Dominance In Global Services Is Weakening
The U.S.’ dominance in the global services sector is weakening due to stagnated trade relations.
Typically, the U.S. has been seen as the leader in global services. More specifically, from between 2003 and 2015 the U.S. has consistently experienced trade surpluses in the following services: medical care, higher education, royalties and payments.
Surplus from these services have not grown at the rates experienced in prior years and there have been an increase in the imports of services. Imports of services have increased 5.5% through the first 9 months of this year. However, the services surplus for exports is down 10% when compared to last year. This will be the largest drop in surplus growth since 2003. The current services surplus is valued at $178.5 billion.
The enrollment of international students in the U.S. has been decreasing, which demonstrates the country’s weakening dominance in the delivery of higher education. Western Kentucky University has been experiencing slowing enrollment from international students. International student enrollment had consistently increased up until 2015. Since then it has dropped by nearly 50%.
“It’s always been up, up, up,” said John Sunnygard, WKU’s associate provost for global learning and international affairs.