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Microchips and clever code animate consumer technology goods, like personal computers and Apple iPhones.
Even if America's economy picks up next year, its imports of information technology goods are likely to remain subdued.
Moreover, many potential future competitors depend in no small part on their access to American markets, technology, goods and services.
Globally, technology goods and services spending is predicted to grow 5percentt next year, to $1.55 trillion.
These critical quasi-public technology goods are supplied to a significant extent by exogenous (external) sources: central corporate research labs, government labs, and increasingly, universities.
So: Their appetite for raw materials (iron ore, copper, corn) and advanced technology goods would stimulate the broader global economy.
Similar(33)
But is the technology good enough to replace guidance from financial advisers?
Parasitic diseases can usually be controlled through technology, good sanitary practices, and educating the public.
While it's possible to buy budget technology, good quality VR is expensive.
But is the internet giant's technology good enough to pass a British driving test yet?
For a start, it overlooks the benefit than consumers get from better technology: good old consumer surplus.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com