A report by the AmericanManufacturing.org website and a recent Pew Research Center article both focus on the discordance in opinion between the general public and elite economic and legislative policymakers on the threat of China to U.S. jobs and fiscal matters.
The general public, who largely contributes to the tax and voting base and to the domestic economy and workforce of the United States, is not accurately being represented by these “elite” lawmaker, financiers, and economists, according to these two articles.
Despite a growing insecurity by the American public and advice from former military leaders, many of our elite financial, political, and historical leaders have remained strangely blinded by the large scale offshoring of U.S. jobs to the China, not to mention the growing debt we have incurred from them.
The loss of domestic manufacturing jobs is almost directly proportionate to the increase in Chinese manufacturing jobs, and it is difficult to understand that this fact is hard for “elite” minds to grasp – from the very obvious U.S. Dept of Labor statistical evidence offered below:
U.S. manufacturing employment in January 2000: 17,292,000
U.S. manufacturing employment in January 2012: 11,860,000
Annual U.S. trade deficit with China in 2000: $83.8 billion
Annual U.S. trade deficit with China in 2011: $295.4 billion
I think these stats say a lot about our country’s current economic state, and I’m not sure why our politicians, economists, and corporate leaders are choosing to ignore them.
Or, maybe they know something we don’t. Wait, that is starting to sound like a crazy conspiracy theory.