Is China Really Taking Away Jobs in the U.S.?
One of the biggest topics among politicians is the fact that the United States is losing jobs overseas, especially in China. According to the article "US textile makers raise alarm over Chinese import surge" China is exporting more than ever before. If the history of China follows, China will grow until it monopolizes the nation in textile exports. Official data released Friday showed China accounted for 35 percent of US textile imports in January and 22 percent of apparel imports. They said that some products such as cotton trousers saw import increases of as much as 1,000 percent in January compared with the same period a year ago. If the government doesn't intervene to save Americas textile industry, many jobs will be lost. Of course it is good for businesses that import because costs will be lower and they will ultimately be able to offer lower prices to the consumer. Is this worth losing jobs? Free trade supporters believe that it is necessary for global competition, and in the long run will be more beneficial. Should the government try to regulate imports from China?
Posted by rico at 3/15/2005 10:17:00 PM