U.S. trade gap with China cost 2.7 million
jobs: study.
Cost 2.7 million jobs, means the trade gap
cost, not costs every year, in a ten-year period between 2001 and 2011. Sometimes
numbers are shown differently from most of the readers or listeners think they
are intentionally or not.
Another point to be worth mentioning here
is that there is a phrase in the article saying, an undervalued currency
effectively subsidizes export and taxes imports.
It was not so long ago that Japan was
bashed by the U.S. exactly the same China is now.
Enjoy reading and learning what the trade deficit
could mean to a country and how it influences its politics, economy and job
market.
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