Dallas Fed: Selling Our Services to the World
"We export more services than any other nation -- by a long shot," Fisher writes. "Better still, most of what we sell abroad are highly valued services -- industrial engineering, entertainment, health care, and the work of architects, lawyers and other professionals."
With their rising incomes and large populations, China and India may provide the biggest potential marketplaces for U.S. services. "The emerging giants we sometimes fear may offer our greatest opportunity," says the report.
Most of our workers are already in the service sector, where they've been dealing with people, not machinery or land. "The combination of diversity and experience puts us ahead of most other countries in the ability to deliver services to a global marketplace.
Federal Reserve Bank of Dallas 2007 Annual Report
Video: Opportunity Knocks: Selling Our Services to the World
Richard W. Fisher speech "Selling Our Services to the World"