Trade deficits eliminate jobs. There are no two ways about it. In the
U.S. we've had manufacturing jobs replaced by lower paying service
jobs. Our employment is high at the moment, while wage growth has been
mediocre for most of the present recovery (the most recent years a bit better).
I'm convinced it'll fail because of the well laid out arguments of people
like Bacon and Tabb (see March issue of Monthly Review). The strategy is
short sighted and will not jive with the American populace, who don't
blame China or trade with China for their problems.
I say it will fail for
steve wrote orginally:
I'm convinced it'll fail because of the well laid out arguments of people
like Bacon and Tabb (see March issue of Monthly Review). The strategy is
short sighted and will not jive with the American populace, who don't
blame China or trade with China for their problems.
