by James Parks, Mar 23, 2010
Members of Congress, listen up: The nation’s huge trade deficit, mainly with China, has cost jobs in every congressional district, according to a report issued today by the Economic Policy Institute (EPI). Contrary to conventional wisdom, high-tech industries are losing jobs faster than any other sector of the economy.
Since 2001, some 2.4 million jobs have been lost or displaced in this country as a result of the massive trade deficit with China, the report says. More than one-quarter—26 percent or about 628,000 jobs—displaced by trade between 2001 and 2008 are in computer, electronic equipment and parts industries. Last year alone, China was responsible for more than 80 percent of our total, nonoil trade deficit in goods.
