Americans lost 2.3 million industrial jobs from 2001 to 2007 as a result of “free trade” with China; $19.4 billion Siphoned Out of Our Economy!

Americans lost 2.3 million industrial jobs from 2001 to 2007 as a result of “free trade” with China; $19.4 billion Siphoned Out of Our Economy Report Says:
By Marc Chamot

President George Bush’s and Congress' Incompetent Legacy Finally Defined:

2.3 Million Jobs Lost to China Since 2001
The United States lost 2.3 million industrial jobs from 2001 to 2007 as a result of trade with China, according to a study by the Economic Policy Institute, a Washington, D.C., think tank. American wages lost to Chinese trade during the period totaled $19.4 billion, more than $8,100 per displaced worker.

This may be the biggest reason as to why our economic woes exists today:

Well folks, the proof is in the pudding. Need I say more? I have been extremely critical of president George Bush, the Republicans and Democrats selling out our nation, our workers, and our own people to suck up and pander to China. Our economic woes are worse than what people think. These scummy politicians really made a big mess out of our industries. My blog has been filled with these resentments, and have been especially critical of Republican nominee John McCain who still wants to pursue these six years of “free trade” and “globalization” George Bush pro-China and disastrous anti- American labor ideologies.

And Barack Obama isn’t any better either. He hasn’t really addressed the issue honestly. He was out in Germany telling the world that he’s a citizen of the world! Oh my, oh my when will this nightmare end?

China trade cost 2.3 million U.S. jobs in 6 years, study says
Posted by Frank Bentayou July 30, 2008 07:01AM
Categories: Breaking News, Manufacturing
The United States lost 2.3 million industrial jobs from 2001 to 2007 as a result of trade with China, according to a study by a Washington, D.C., think tank.

The employment loss in Ohio during that period totaled 102,700 jobs, according to the Economic Policy Institute's briefing paper, "The China Trade Toll." Robert Scott, an economist with the institute, was the report's author.

Ohio's six-year job losses were fifth highest of the 50 states, with 1.85 percent of total employment lost. That was 19th highest among the states, according to Scott's tabulations.

In a conference call with reporters Tuesday, Ohio Sen. Sherrod Brown, who had reviewed the report, said the data Scott gathered and his conclusions were sound. He said they suggested that "Ohio's manufacturers are playing so often now with one hand tied behind their back" in trying to compete with China and what he called its unfair trade practices.

Such unfair practices, he said, include inadequate health and safety regulations for production workers, manufacturing subsidies from the Chinese government, lax environmental rules that permit pollution far beyond what the United States demands of industrial companies, and an artificially low value for the nation's currency, the yuan.
Two results, he said, are artificially low consumer prices for Chinese goods sold in America and a skyrocketing trade imbalance between the United States and China. A U.S. trade bill he and other senators have been working on would address those and other issues leading to the nation's lopsided international trade.

Also supporting the institute's report on the conference call were Leo Gerard, international president of the United Steelworkers of America, and Scott Paul, executive director of the Alliance for American Manufacturing, a trade and policy organization in Washington.

Also speaking and answering questions during the conference call was John Johnston, with Industrial Tube & Steel Corp. in Akron. Johnston has been active in Summit County advocating for tighter U.S. controls on Chinese imports.

Scott said his research methods in compiling and analyzing data from the U.S. Department of Labor and other sources met standards used in most other national economic studies. In uncovering the state-by-state job losses, he said, "We've taken it a little further than others have."

He concluded that American wages lost to Chinese trade during the period totaled $19.4 billion, more than $8,100 per displaced worker.

The highest total job loss attributable to trade with China was in California, which lost 325,800 jobs in the years studied. The highest percentage drop in state employment was in Idaho, which suffered 14,700 lost jobs, or 2.59 percent of its 2001 labor force. Source:http://blog.cleveland.com/business/2008/07/china_trade_cost_23_million_us.html

Posted stories on my blog blasting these ignorant political practices on NAFTA and Free Trade Deals that’s killing our economy and American jobs!

The Selling Out of America PART TWO: The KILLING of the American Middle Class/WORKER, Why Democrats and Republicans are to Blame:

Both, Barack Obama and John McCain Accused of Flip-Flopping Towards Populist Views/ Issues & New American Jobless Report a National Disgrace?

Texans Give Republicans John McCain, Texas Governor Rick Perry, George Bush's Globalizations and Free Traders & Mexico's NAFTA Superhighway the Boot!

Economics 101: Globalization and Free Trade with Third World Nations Don’t Work in America’s Favor & why are John McCain and Republicans Wrong?

Globalization & Free-Trade Talk May Doom Republican Presidential Candidate John McCain: is McCain failing on his Populist Message Badly?

Is it Time for Americans & Gutless U. S. Politicians to Get Tough with China?

Sphere: Related Content