U.S. Trade Deficit with China Has Eliminated at Least 3.4M American Jobs

[Revmitchell]

The United States’ trade deficit with China has eliminated at least 3.5 million American jobs since 2001, data reveals.
As President Trump is set to release a package of $50 billion worth of tariffs and restrictions on Chinese investments, the U.S. goods trade deficit with China remains at $29.3 billion.

Since 2001, free trade with China has cost millions of Americans their jobs. For example, in a report by the Economic Policy Institute, between 2001 and 2015, about 3.4 million U.S. jobs were lost due to the country’s trade deficit with China.

Of the 3.4 million U.S. jobs lost in that time period, about 2.6 million were lost in the crippled manufacturing industry, making up about three-fourths of the loss of jobs from the U.S.-Chinese trade deficit.

U.S. Trade Deficit with China Has Eliminated at Least 3.4M American Jobs

 

[Saved-By-Grace]

The USA is owned by China!

How Much Does the U.S. Owe China?

 

[Earth Wind and Fire]

The USA is owned by China!

How Much Does the U.S. Owe China?

Good article

 

[InTheLight]

Good article

Is it? Article says the job losses occurred and offers no proof or rationale for why the trade imbalance caused it. Just says it was so and shows a bar graph.

Article is based on a study that purports to show the US lost 3.4 million jobs because of the trade deficit with China. If you read the article the time period covered is 2001-2015. We suffered through the Great Recession during that time period, so I wonder how the study can distinguish job loss due to the trade deficit from job loss due to the recession?

Not only that but 3.4 million jobs lost in 15 years? That's a broad brush approach, isn't it?

Furthermore, the article points to several factors that create the trade imbalance--currency manipulation, illegal industry subsidies, tariff and non-tariff barriers to imports, dumping, and the suppression of wages and labor rights. Notice buried in that list is "tariffs".

Additionally, the article lists the US solutions to the trade deficit with China--"challenge China on unfair currency practices, excess production capacity, and illegal dumping.These issues should be front and center of any bilateral negotiations we have with China." Also mentioned were "stepped-up enforcement of fair trade laws and treaty obligations, and a border-adjustable carbon fee on imports produced by energy-intensive industries."

Notice there is no mention of increasing tariffs on China.

Yet this is what Stable Genius is doing, and quite loudly, which is causing an unstable stock market.



Sent from my Nexus 7 using Tapatalk

 

[Saved-By-Grace]

Like the UK, the US is bankrupt, and the majority is owed to foreign countries, who now also own many of the big businesses in our countries. Once there was the Great British Empire, and we "ruled" in India for about 350 years. Now, on our knees financially, we go with begging bowl to India! Speak of humiliation...

 

[InTheLight]

Like the UK, the US is bankrupt, and the majority is owed to foreign countries, who now also own many of the big businesses in our countries. Once there was the Great British Empire, and we "ruled" in India for about 350 years. Now, on our knees financially, we go with begging bowl to India! Speak of humiliation...

Please tell us how the US is bankrupt if they are collecting $3 trillion in taxes every year. I'd like to know more.

Bonus: Tell us how this relates to the alleged job losses caused by the trade imbalance.

Sent from my Nexus 7 using Tapatalk

 

[Saved-By-Grace]

Please tell us how the US is bankrupt if they are collecting $3 trillion in taxes every year. I'd like to know more.

Bonus: Tell us how this relates to the alleged job losses caused by the trade imbalance.

Sent from my Nexus 7 using Tapatalk

The debt owed to foreign countries is over $6 TRILLION, not to mention the debit held by the US government and its citizens...

 

[InTheLight]

The debt owed to foreign countries is over $6 TRILLION, not to mention the debit held by the US government and its citizens...

Having debt does not mean you are bankrupt.

Sent from my Nexus 7 using Tapatalk

 

[Saved-By-Grace]

Having debt does not mean you are bankrupt.

Sent from my Nexus 7 using Tapatalk

it is when the debit is HUGE, which is what the US national debt is. You guys are living on your great, great, great, great... grand kids "earnings"

Check this out,

U.S. National Debt Clock : Real Time

 

[InTheLight]

it is when the debit is HUGE, which is what the US national debt is. You guys are living on your great, great, great, great... grand kids "earnings"

Check this out,

U.S. National Debt Clock : Real Time

Yes, I know about the US national debt. Having debt is not the same as being bankrupt.

 

[Saved-By-Grace]

Yes, I know about the US national debt. Having debt is not the same as being bankrupt.

you ever thought what would happen if the $6 trillion that is owed to foreign countries, was called in? It is bankrupt in all but name. When a person or country OWES much more they will ever make, this is the same as being bankrupt. Its all about smoke and mirrors...

 

[InTheLight]

you ever thought what would happen if the $6 trillion that is owed to foreign countries, was called in? It is bankrupt in all but name. When a person or country OWES much more they will ever make, this is the same as being bankrupt. Its all about smoke and mirrors...

The US takes in $3 trillion PER YEAR in taxes. That's 'only' two years worth of foreign debt.
Other countries could try to call in all their debt at once but the US needn't pay them all at once.

 

[Saved-By-Grace]

The US takes in $3 trillion PER YEAR in taxes. That's 'only' two years worth of foreign debt.
Other countries could try to call in all their debt at once but the US needn't pay them all at once.

And what do you think happens to that tax money? it is spent every year, hence there is a DEFICIT!

 

[InTheLight]

And what do you think happens to that tax money? it is spent every year, hence there is a DEFICIT!

Still not bankruptcy.

Sent from my Pixel 2 XL

 

[Saved-By-Grace]

Still not bankruptcy.

Sent from my Pixel 2 XL

 

[Revmitchell]

debt is by its very nature bad.

 

[InTheLight]

debt is by its very nature bad.

Yes, mostly. But the US is an ongoing concern. It's always collecting revenue and its debt is nowhere near its intrinsic value. In other words it's net worth is very positive.

It's like having a house worth $500,000 and your mortgage is at a $200,000 balance. You've got a lot of expenses and your yearly income can't quite cover it. So you tap into a home equity line of credit. Your debt keeps inching up and up over the years. At some point you need to make it right and pay down your debt but you are far, far from bankrupt.

Sent from my Pixel 2 XL

 

[Earth Wind and Fire]

Is it? Article says the job losses occurred and offers no proof or rationale for why the trade imbalance caused it. Just says it was so and shows a bar graph.

Article is based on a study that purports to show the US lost 3.4 million jobs because of the trade deficit with China. If you read the article the time period covered is 2001-2015. We suffered through the Great Recession during that time period, so I wonder how the study can distinguish job loss due to the trade deficit from job loss due to the recession?

Not only that but 3.4 million jobs lost in 15 years? That's a broad brush approach, isn't it?

Furthermore, the article points to several factors that create the trade imbalance--currency manipulation, illegal industry subsidies, tariff and non-tariff barriers to imports, dumping, and the suppression of wages and labor rights. Notice buried in that list is "tariffs".

Additionally, the article lists the US solutions to the trade deficit with China--"challenge China on unfair currency practices, excess production capacity, and illegal dumping.These issues should be front and center of any bilateral negotiations we have with China." Also mentioned were "stepped-up enforcement of fair trade laws and treaty obligations, and a border-adjustable carbon fee on imports produced by energy-intensive industries."

Notice there is no mention of increasing tariffs on China.

Yet this is what Stable Genius is doing, and quite loudly, which is causing an unstable stock market.



Sent from my Nexus 7 using Tapatalk

Yea the same guy you applauded a few months ago.... congratulations

 

[Earth Wind and Fire]

debt is by its very nature bad.

Yes ...for the debt laden

 

[Revmitchell]

Debt is always bad period.