Media clips
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There are many ways at looking at the effect of the US trade deficit with China. One group, the Economic Policy Institute issued a report on Oct. 23 tying job loss to the growing deficit. In the report, the group says that between 2001 and 2016 the group said the US lost 3.4 jobs. “The growing trade deficit with China affects different regions in different ways,” write the authors of the report. “Some regions are devastated by layoffs and factory closings, while others are surviving but not growing the way they could be if new factories were opening and existing plants were hiring more workers. This slowdown in manufacturing job generation also is contributing to stagnating wages and incomes of typical workers and widening inequality.”
Industry Week October 26, 2018 -
For some reason, Connecticut is kind of obsessed with its standing on various state-by-state lists. High marks for quality of schools, workforce skills. Taxes and cost-of-living? Not so much. So it was interesting to see where Connecticut ranked in a recent report by the liberal-leaning Economic Policy Institute that paints a dim picture of the impact of the U.S. trade deficit with China on American jobs. The trade deficit, now more than $260 billion, cost the U.S. 3.4 million jobs between 2001, when China entered the World Trade Organization, and 2017. Three-quarters of the job losses were in manufacturing, the report concluded. Connecticut ranks in the upper half of states — No. 22 — in terms jobs lost as a percentage of total jobs. (For those interested in the math, it works out to be 38,400 out of 1.6 million, or 2.28 percent.) (EPI cited throughout)
Hearst Media October 26, 2018 -
The U.S. trade deficit with China has reduced sharply employment stateside since 2001, according to “The China Toll Deepens,” a new report from the Economic Policy Institute in Washington, D.C. The finding from the EPI’s Robert E. Scott and Zane Mokhiber “examines the job impacts of trade by subtracting the job opportunities lost to imports from those gained through exports.” Their thesis is simple. The bilateral trade deficit in goods between the planet’s two biggest economies is the main cause of the U.S. employment losses that are concentrated in the American manufacturing sector. (whole story)
MutliBriefs October 26, 2018 -
Scything through heartland America, the human toll has been immense. More than 3.4 million jobs in the United States have been lost since China joined the World Trade Organisation 17 years ago. At least 1.3 million jobs have disappeared in the past decade, fueling the trade war between Beijing and Washington and adding US$100 billion to the US deficit. “The growth of the trade deficit with China between 2001 and 2017 was responsible for the loss of 3.4 million [American] jobs, including 1.3 million since 2008, [which was] the first full year of the Great Recession,” a report released by the Economic Policy Institute, a non-profit, liberal think tank based in Washington, revealed. (whole story)
Asia Times October 26, 2018 -
The New York Times October 24, 2018
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The explosive growth in the U.S. trade deficit that came from China joining the World Trade Organization cost an estimated 3.4 million jobs, according to a new report released Tuesday. The study of the impact in the growth in the trade deficit between 2001 and 2017, published by the Economic Policy Institute, showed that it hit the manufacturing sector in particular, where 74% of those jobs were lost. (whole story)
Market Watch October 24, 2018 -
China was granted admission to the World Trade Organization (WTO) in late 2001 and since then the U.S. annual trade deficit with China increased from $83.0 billion to $375.2 billion in 2017. That increase has cost U.S. workers 4.14 million lost jobs due to the number of goods imported from China and added 780,000 jobs in U.S. jobs that produced goods for export. The net impact has been the loss of 3.36 million American jobs in the 16 years since China became a full member of the WTO. The data were reported Tuesday morning in a new study from the Economic Policy Institute (EPI) titled “The China Toll Deepens.” EPI has been updating its research on U.S.-China trade and jobs since 2012. The EPI model estimates the amount of labor (number of jobs) required to produce a given volume of exports and the labor displaced when a given volume of imports is substituted for domestic output. The difference between these two numbers is essentially the jobs displaced by the growing trade deficit, holding all else equal. (whole story)
24/7 Wall St. October 24, 2018 -
America’s trade deficit with China has cost 3.4 million U.S. jobs since 2001 and is a major contributor to widening economic inequality, according to a study released Tuesday by the Economic Policy Institute. Not surprisingly, the manufacturing sector has suffered the most because of America’s lopsided trade relationship with China, losing 2.5 million jobs between 2001 and 2017. But every state and every congressional district has seen job loss as a direct result of the growing China trade deficit, and the study shows that the wider economy continues to be dragged down by the growing deficit. (whole story)
Alliance for American Manufacturing October 24, 2018 -
he United States has a massive trade deficit with China that has ballooned since the world’s most populous nation joined the World Trade Organization (WTO), costing the American economy millions of jobs, and U.S. workers billions in wages, according to an analysis completed by the Economic Policy Institute (EPI). A model run by the EPI, a non-partisan think tank that advocates for low-and-middle income workers, examined the impacts of trade by subtracting the job opportunities lost to imports from those gained through exports. While imports from China have soared, exports to China have not increased by a similar magnitude. The result, therefore, is a loss of 3.4 million jobs in the U.S. between 2001- the year China joined the WTO – and 2017. Job losses have been across the country, while the manufacturing sector has been particularly hard hit. The EPI estimates that 2.5 million manufacturing jobs were lost between 2001 and 2017, about 75 percent of the total losses. (whole story)
Fox Business October 24, 2018 -
A “massive” trade deficit with China has resulted in the lost of millions of jobs in the U.S., but California has been the hardest hit state, according to a study released Tuesday by the Washington, D.C. think tank Economic Policy Institute. To determine how the trade deficit has impacted all 50 states, researchers examined “the job impacts of trade by subtracting the job opportunities lost to imports from those gained through exports.” (whole story)
North Hollywood Patch October 24, 2018