Declining IP trade balance

The Wall Street Journal has a story about the declining trade balance in services over the past 9 months as exports have stagnated and imports grown.  However, the most striking feature of the services trade balance decline has been in intellectual property (a pure intangible).  And the problem is not a recent one.  Foreign revenues from intellectual property (exports) have been flat for almost a decade while foreign payments (imports) have continued to increase. IP-Sept 19

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