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The United States' whopping trade deficit with Japan some $37 billion last year is well publicized. Much less v?ell known is the $3 billion, perhaps much bigger, surplus enjoyed by the U.S.in 1983 in exporting services to Japan. Services is a broad but expanding category'that includes banking, insurance, tourism, communications, legal fees, and countless other categories of transactions essential for modern societies. While the U.S. services surplus currently scarcely offsets its trade deficit, eventually it could make a huge dent in it. Indeed, one of the most promising areas of U.S. export expansion is in services. Americans enjoy an edge in innovation, technology, imagination, variety, and experience in the services field. As such, U.S. policy makers concerned with staunching the flood of red ink on trade should begin examining means-for boosting the export of American services. ....

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