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Reply #4: Costly Trade With China..... "The 1.8 million jobs opportunities [View All]

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slipslidingaway Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-19-07 10:55 AM
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4. Costly Trade With China..... "The 1.8 million jobs opportunities
lost nationwide since 2001 are distributed among all 50 states and the District of Columbia..."


Costly Trade With China
Millions of U.S. jobs displaced with net job loss in every state

http://www.epi.org/content.cfm/bp188


The High Cost of the China-WTO Deal
Administration's own analysis suggests spiraling deficits, job losses

http://www.epi.org/content.cfm/issuebriefs_ib137

by Robert E. Scott

"No one can predict the future. But the Clinton Administration is confidently forecasting that the huge U.S. trade deficit with China will improve if Congress accords China permanent normal trade relations (PNTR) in order to accommodate Beijing's membership in the World Trade Organization (WTO)...

China's entry into the WTO, under PNTR with the U.S., will lock this relationship into place, setting the stage for rapidly rising trade deficits in the future that would severely depress employment in manufacturing, the sector most directly affected by trade. China's accession to the WTO would also increase income inequality in the U.S. 4

Despite the Administration's rhetoric, its own analysis suggests that, after China enters the WTO, the U.S. trade deficit with China will expand, not contract. The contradiction between the Administration's claims and its own economic analysis makes it impossible to take seriously its economic argument for giving China permanent trade concessions..."



"...The 800 Pound Gorilla(s)..."
see link below for charts and more info

http://www.contraryinvestor.com/2007archives/momay07.ht...

"...First, when we're talking about the US trade deficit, we're really talking about two issues of major importance - China and oil. Crazily enough, from a truly broad and long term perspective, what really are the most important forces on the planet that have the ability to materially influence forward global economic outcomes other than China and oil? From our perspective, not a heck of a lot. Anyway, a bit of perspective lies below.

The following are US imports from China. The numbers are not net, but gross nominal dollar imports. US exports to China run one-fifth to one-sixth these numbers, as China is certainly the country against which the US runs the largest deficit..."

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