16 - The TPP Agreement’s Substance and Impact on International Trade, NAFTA/USMCA, and Other FTAs: Services Overview: Background, Strategy and Solutions

Summary

The global economy is in the midst of the Services Revolution, which is having as dramatic an effect on our work life and daily life as the Industrial Revolution 100–150 years ago. Services make the world go around, for consumers, businesses, and governments.

Just think of your daily routine. First thing in the morning, you wake up knowing that your family was safe because of the electronic security service that was monitoring everything while you slept, from the locks on your doors to the carbon monoxide in the garage. Then you probably check your e-mail, the football or cricket results, and the headlines from the Financial Times on your smartphone service. If you drive to work, you require car insurance; if you take the subway or bus, life insurance. On the way to the office, you stop at your favorite coffee bar for your breakfast. At the office, you put the box of that birthday tie return in the express delivery pick-up box. A quick check online of your bank balance. Then you place calls to everyone who left you voicemails overnight, using one of the international telecommunications services.