Study: China Trade Deficit Cost 2.7 Million U.S. Jobs
A new study by economist Robert E. Scott finds that from 2001 to 2011, America's trade deficit with China killed or displaced over 2.7 million U.S. jobs, 76.9 percent of which came from manufacturing.
Hardest hit states included: California (474,700 jobs), Texas
(239,600), New York (158,800), Illinois (113,700), North Carolina
(110,300), Florida (106,100), Pennsylvania (101,200), Ohio (95,900),
Massachusetts (92,700), and Georgia (87,300).
Chinese currency manipulation and China's entry into the World Trade Organization (WTO) were cited as major contributors to the U.S.-China trade deficit. Since China's entry into the WTO, an average 274,200 jobs a year have been eliminated or displaced to China.