The trade deficit of the USA with China for the period from the entry of China into the World Trade Organization in 2001 to 2017 has grown significantly. This caused the loss of 3,400,000 jobs in the United States. Losses in the manufacturing industry amounted to 2.5 million jobs. Such data are presented in the report of the Economic Policy Institute. The demand for domestically produced goods in the United States has declined. This is most reflected in computers and electronic components, the trade deficit of which has grown significantly. This led to the loss of 1 million 200 thousand jobs in the industry. Institute experts believe that for the Chinese economy, exports play an important role, and the elimination of the trade deficit with China will increase the number of jobs in high-tech industries in the United States.
China’s Tencent buys Malaysian streaming platform Iflix in a push into South East Asia25.06.2020
Dollar gains on risk-off mood due to virus fears, trade tensions23.06.2020
Gold prices dip after White House clarifies trade deal mixup23.06.2020
Asian stocks in rocky trade over U.S.-China trade confusion