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Trade Deficit with China Causes Job Loss
By EmploymentCrossing.com
From 2001 through 2007, the trade deficit between the United States and China has caused 2.3 million jobs to be lost in the States.
According to the Economic Policy Institute’s research, in that time the trade deficit grew from $84 billion to $262 billion.
The EPI is calling for a demand to reorganize the trade relationship between the US and China.
In what could be called a distortion of the free market, China manipulates currency, allowing its own companies unfair advantages in international trade.
Such a trade deficit results from a country, like the United States, importing more than it exports.
In what will be a hot topic for debate in the 2008 presidential election, the nation’s trade relationship with China must be addressed.
Since joining the World Trade Organization, China has been criticized for its labor standards, and its policy for currency exchange.
Of the 2.3 million jobs lost due to the deficit, the manufacturing, computing, and electronics sectors have been hit the hardest.
For more information on manufacturing jobs in your area, click here.
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