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Politics : Foreign Affairs Discussion Group

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To: SARMAN who wrote (260907)	4/7/2008 7:16:15 PM
From: TimF	Read Replies (2) of 281500

Cheap products? Yes. Loss of manufacturing jobs? Not really certain. Most of the loss in manufacturing jobs in the US is do to increased productivity. Certainly some things are manufactured in China that used to be manufactured in the US, but 1 - If China didn't manufacture them that doesn't mean they would still be manufactured in the US, they could be manufactured in some third country, and 2 - The positive effects of trade on the economy can create some manufacturing jobs. Still if I had to give a specific answer rather than "not certain", my guess would be that at the margin there are less total manufacturing jobs in the US than there would be if there was no trade with China. OTOH that means that the labor for those jobs can be used for other purposes. We don't have high unemployment. The efficiencies in labor productivity from trade are beneficial not harmful. reduction of standard of living? - No. An increase in the standard of living. As for China - holding the US debt/balls - Not really. They can harm us, but only by harming themselves even more.

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