International Trade Essays

1174 Words 5 Pages
The United States and China’s economic partnership has increased dramatically over the past years. Having a big population and a fast paced economy, China is a major market for the U.S. government. Thus, economic ties have stretched due to several issues, including China’s vast and expanding trade goods to the United States. China's fast transition to higher status, the U.S. and China merger has pushed the international relations into the spotlight of the world today. Due to its low rate of saving, the United States takes from outside sources to finance the federal budget deficit. It solely depends on countries with high savings rates, such as China, to push some of their money and goods in the United States. “U.S. Treasury securities, …show more content…
“Between 2001 and 2010, the trade deficit with China eliminated or displaced 2.8 million jobs, 1.9 million (69.2 percent).The 1.9 million manufacturing jobs eliminated or displaced due to trade with China represents nearly half of all U.S. manufacturing jobs lost.”(Department of labor 2012) The rising trade money pit with China cost the U.S employment market in every major congressional district resulting in 2.8 million jobs lost even though imports from China and the rest of world collapsed in 2009 “With the biggest net losses occurring in California (454,600 jobs), Texas (232,800), New York (161,400), Illinois (118,200), Florida (114,400), North Carolina (107,800), Pennsylvania (106,900), Ohio (103,500), Massachusetts (88,600), and Georgia (87,700).” (U.S. Census Bureau. 2009) China impact within the job market trade deficit is not just restricted to job loss and displacement. Contention with minimum wage workers from poor areas of countries such as China has killed wages for employees in United States. Similarly non college employees were forced to take a lower wage per hour then their college graduates counterparts just to get the jobs. “The population affected includes essentially all workers with less than a four-year college degree, roughly 70% of the workforce, or about 100 million workers.”

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