AAM released a report today detailing how the U.S. went wrong in setting up its trading relationship with China.  The AAM bullet point summary is below the fold.  Full report is here.

The  Alliance for American Manufacturing (AAM) is pleased to present the Economic Policy Institute's report, "The China Trade Toll," which is being publicly released today.  The report presents some very noteworthy findings, including:
 
-2.3 million U.S. jobs were lost due to our trade deficit with China from 2001-2007, including 366,000 last year alone;
 
-Those displaced workers lost an average of $8,146 each in wages last year, for a total of $19.4 billion, as they took lower-paying jobs;
 
-Average wages earned producing U.S. exports to China were 4.4 percent less than jobs lost to imports from China;
 
-More than half (55.6 percent) of the displaced jobs were in the top half of American wage earners;
 
-Nearly a third (31 percent) of the displaced jobs were among workers with a college degree;
 
-Growing trade deficits have contributed to the loss of 200,000 science and engineering jobs within the manufacturing sector;
 
-The biggest-losing states were California, Texas, and New York;
 
-The states that lost the largest share of their total state employment to the China trade gap were Idaho, New Hampshire, and South Carolina;
 
-More than 2/3rds of the jobs lost were in manufacturing, including many in computers, electronics, and advanced technology products;
 
-Growth in the China trade deficit has eliminated 561,000 jobs in computer and electronic products alone since 2001;
 
-230,000 African-American workers, 339,000 Hispanic workers, and 219,000 Asians/other minorities have lost their jobs due to China trade since 2001.
 

TrackBack URI for this entry

Comments (2)

Subscribe to this comment's feed

Black Star Ranch
written by Bill , August 02, 2008

...resistant to 'facts & figures'? Try resistant to 'real-life'. The dumbing down of America has been highly successful over the past 40-50 years. If a serious societal concern involves anything outside the newest cell-phone or Hollywood craze/mentality/technology/mind-thought, it may as well be related to the masses via Ancient Greek text.....

report abuse

vote down

vote up

Votes: +0

Dollar to the Giant
written by Bob Hall , July 30, 2008

I don’t expect much cooperation from our governments or multinationals, and I’m afraid most Americans are resistant to facts and figures.

I might suggest an artistic, emotional approach to help convey our message. The powerful “ollar to the Giant” video on YouTube is proving effective at connecting people with the importance of manufacturing and the reality of our relationship with China.

Here’s the URL: http://www.youtube.com/watch?v=TUj8leZxmK8

report abuse

vote down

vote up

Votes: +0

Write comment

Name

Title

Comment

smaller | bigger

Subscribe via email (Registered users only)

I have read and agree to the Terms of Usage.

Add Comment