The flow of income on all this stuff should be against the US. But in fact, it's still in favor of the US and hasn't really changed that much for the last five or six years. One theory is just a mismeasure, right? The stock. So I think that there is the one you mentioned: we're just investing in high, Americans invest in higher return assets overseas versus what foreigners are investing in here.
Russ Roberts interviews Robert Barro, Harvard University Professor and Hoover Institution Senior Fellow, on the economics of growth, what the developed world can do to help poor people around the world, and the role of US assets and the dollar in world finance.