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Showing blog posts tagged with China

Walmart Store Closures in China Disrupt Workers' Lives and Livelihoods

Workers at Walmart stores in Changde, Hunan Province, and Ma’anshan, Anhui Province, in China are protesting Walmart’s plans to close the stores.

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Want to Create 5.8 Million New Jobs? Here’s How

Want to Create 5.8 Million New Jobs? Here’s How

If the United States acted forcefully to end currency manipulation by China and other nations—and there is legislation to provide the government the tools to do so—it could create as many as 5.8 million jobs (40% in manufacturing) and reduce the nation’s trade deficit by as much as 72.5%, according to a new report from the Economic Policy Institute (EPI).    

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Economic News Roundup

Economic News Roundup

The Economic Policy Institute (EPI), the Center on Budget and Policy Priorities (CBPP), the Center for Economic and Policy Research (CEPR) and Media Matters have released important research about the economy in the past few weeks. Here's a look at some of the key pieces they have uncovered about the U.S. economy.

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Trade Deficit Numbers Show Policy Changes Needed

Trade Deficit Numbers Show Policy Changes Needed

The trade deficit numbers released today provide more evidence that U.S. trade policy needs to change, said AFL-CIO President Richard Trumka.

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A BIT with China Is the Wrong Solution to the Wrong Problem

Photo via TwicePix/Flickr

The United States is currently negotiating a bilateral investment treaty (BIT) with China. When most people think of a “bit,” they think of something that goes in a horse’s mouth, or maybe a small piece of something. Unfortunately, this kind of BIT can be much more harmful than either of those things. A BIT is a treaty between two countries in which each country promises to give rights and privileges—but impose no obligations—to investors from the other country. Usually these investors are large corporations. If you wonder why the United States would negotiate a treaty that grants rights and privileges to foreign corporations (rights and privileges home-grown corporations don’t have, by the way), you’re not alone.

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9 Things You Didn't Know About Our Trade Deficit with China

Photo courtesy bitzcelt

In 2001, China joined the World Trade Organization (WTO). America's workers have felt the consequences ever since.

A new report from the Economic Policy Institute examines the primary result in the United States of China's entry into the WTO, a massive increase in the trade deficit between the two countries, favoring China. The report's author, Robert E. Scott, concludes that the trade deficit with China drives down wages and benefits in the United States and eliminates good jobs for U.S. workers.

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Displaced Minority Workers Suffered 29.6% Drop in Wages from Growing Trade Deficit with China

Growing China trade deficits displaced nearly 1 million good jobs with excellent benefits for minority workers between 2001 and 2011.

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Company Turns to IBEW and Brings Jobs Back from China

Neutex Advanced Energy Group, a Houston-based maker of LED lights, light bulbs and fixtures, brought its core manufacturing operation from China back to the United States last year and turned to the Electrical Workers (IBEW) to staff its facility.

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What Are the Consequences of Unfair Trade Practices?

Middle-class wages have been stagnant for more than 30 years. Stagnant wages are due to many factors, including the decline in unionism, the decline in the value of the minimum wage, rising health care costs and the need to cut non-fixed cost, i.e., labor, because of global competition.

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Growing Threat of Currency ‘War’ Could Derail Global Economic Recovery

Growing Threat of Currency ‘War’ Could Derail Global Economic Recovery

China has long been known as the globe’s biggest currency manipulator. China undervalues its currency—the yuan or the renminbi— and that raises the price of U.S. exports and suppresses the price of Chinese imports into the United States. This artificial price advantage is a major factor that encourages U.S. businesses to shut down operations here and manufacture in China instead, costing the U.S. millions of manufacturing jobs and is a major reason for the massive U.S. trade deficit.

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