From ILCA Online:
China’s trade with the U.S. cost this country approximately 1.5 million lost job opportunities in the last four years, a new report says.
And, contrary to popular impressions, Chinese exports to the U.S. are moving upwards from labor-intensive low-cost goods–such as textiles and shoes–to high-tech goods and services, such as information technology, economist Robert Scott’s study adds.
The report, ordered by Congress, prompted the Machinists to warn lawmakers about expanding trade with China. IAM, and the report, pointed out China trade backers had argued–when Congress considered China’s World Trade Organization application–that trade would eventually even out and bring the U.S. jobs.
