[CTC] Haiti | U.S. President Bill Clinton publicly apologizes for failed trade policies

[Citizens Trade Campaign]

LISTEN: <http://manufacturethis.org/?p=8898>  Conference call with Sens.
Schumer and Graham on jobs lost due to the U.S. trade deficit with China




The Alliance for American Manufacturing (AAM) and the Economic Policy
Institute (EPI) held a press conference
<http://audio3.confpro.com/2459161/20100323140000.wav>  call to discuss the
findings of a new report  <http://www.epi.org/publications/entry/bp260/>
that shows the trade deficit with China costing the U.S. 2.4
<http://www.americanmanufacturing.org/china-job-loss/>  million jobs between
2001-2008.  AAM Executive Director Scott Paul and EPI's Research Director
Rob Scott were joined on the call by Sens. Charles
<http://manufacturethis.org/?p=8707>  Schumer (D-NY) and Lindsey Graham
(R-SC).  The discussion focused on not only the new report, but also China's
continued currency manipulation, which is harming U.S. manufacturers and
their workers.

Listen to the full conference call.
<http://audio3.confpro.com/2459161/20100323140000.wav> 

##


 <http://manufacturethis.org/?p=8845> NEW REPORT: 2.4 Million U.S. Jobs Lost
Due to China Trade Deficit Since 2001
<http://manufacturethis.org/wp-content/uploads/2010/03/map.jpg> 


 <http://manufacturethis.org/wp-content/uploads/2010/03/map1.jpg> map1

High-Tech Industries Losing Jobs at the Fastest Rate; California, Texas, New
York Among Biggest Losers

2.4 <http://www.americanmanufacturing.org/china-job-loss/>  Million U.S.
Jobs Lost Since 2001 as Trade Deficit Soars

WASHINGTON, DC - The United States is hemorrhaging millions of jobs as a
result of the nation's growing trade deficit, largely with China, according
to a report <http://www.epi.org/publications/entry/bp260/>  issued today by
the Economic Policy Institute (EPI). Contrary to conventional wisdom,
high-tech industries are losing jobs faster than any other sector of the
economy, the Alliance for American Manufacturing (AAM) pointed out.

Since China joined the World Trade Organization (WTO) in 2001, 2.4 million
jobs have been lost or displaced in the United States as a result of the
burgeoning trade deficit with that nation, the report concludes.

Growing trade deficits cost jobs in every state and congressional district
(CD), the report found, including the District of Columbia and Puerto Rico.
The computer, electronic equipment and parts industries experienced the
largest growth in trade deficits with China, resulting in 628,000 job
losses-26 percent of all jobs displaced by trade between 2001 and 2008. 

The EPI report is the first to break down job losses to the congressional
district level. Using the EPI data, AAM created an
<http://www.americanmanufacturing.org/china-job-loss/>  interactive map
showing the impact by CDs. The hardest-hit districts were located in
California and Texas, where remaining jobs in these industries are
concentrated, and also in North Carolina, which was hit by job displacement
in a variety of manufacturing industries. Other populous states like New
York and Illinois also had major job losses.

"China's cheating is causing America to lose more than just the capacity to
make widgets in the one-sided trade arrangements with China," said AAM
Executive Director Scott Paul. "Sophisticated electronics and high-tech
products that once were made in the United States are increasingly being
made in China instead. We are losing more and more of these good jobs."

The report cites China's currency manipulation as a major cause of the
growing U.S. trade deficit with that nation. China has tightly pegged its
currency to the dollar at a rate that encourages a large bilateral surplus
with the United States. Other causes of the deficit include massive
industrial subsidies in China, lax labor and environmental law enforcement,
intellectual property theft and piracy and Chinese policies that block
market access to U.S. firms.  

Learn more. <http://www.americanmanufacturing.org/china-job-loss/> 

##


China <http://manufacturethis.org/?p=8838>  pushes for a May Meeting to ease
tensions with U.S.


Posted by Jeckert <http://manufacturethis.org/?author=136>  on March 23rd,
2010 

obama-in-china

China may have woken up, if ever so slightly, to the fact that their yuan is
grossly undervalued- as much as 25 percent according to a recent Reuter
<http://www.reuters.com/article/idUSTRE62L2JF20100322> 's article.  This
could be due to pressure from Congress on President Obama to toughen up on
China, and perhaps the fact that on April 15, the U.S. Treasury Department
will release a report that could label China a currency manipulator.
Chinese officials are pushing for a "Strategic and Economic Dialogue" in
Beijing in May to address some issues of mutual (to be used loosely here)
concern.

Chinese Premier Wen Jiabao said Monday:

"Although there are conflicts and problems in bilateral economic and trade
ties, I'm sure that as long as we adhere to a spirit of mutual benefit and
mutual accommodation on an equal footing, we can always find solutions."

Read more here. <http://www.reuters.com/article/idUSTRE62L2JF20100322> 

 

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