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And the same for the uk and Europe
The shirt on your back. The flat-screen television in your family room. The bag of shrimp in your freezer.
Economist Peter Navarro says you don't have to look too far to see why the United States is struggling with persistently high unemployment.
Clothing, appliances and even food at U.S. stores are increasingly imported from China.
In his book, "Death by China, opening today at the Cedar Lee Theatre in Cleveland Heights, Navarro said the trade deficit with China has shuttered more than 50,000 U.S. factories.
He said Ohio was vulnerable because its historically diverse manufacturing base not only included major manufacturers, but small and mid-size companies that make up their supply chain.
"Ohio is Ground Zero in the undeclared trade war we've had with China since 2001," said Navarro, a business professor at the University of California, Irvine, who will be in Cleveland this weekend.
"Ohio has been the biggest victim because it has been our strongest manufacturing state in many ways, and has not been able to withstand the onslaught," he said.
In 2001, China joined the World Trade Organization, whose mission includes fostering formal trade agreements between countries.
"The movie is about how a Democratic president (Bill Clinton) and a Republican Congress allowed China to enter into the WTO, which was synonymous with giving China's unlimited access to American markets," he said. "Rather than play by the WTO rules, China began to cheat using what I refer to as Weapons of Job Destruction.
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These "weapons" include what Navarro deems are illegal subsidies from the Chinese government, including free land, subsidized energy and routine low and no-interest loans. Manufacturers also get subsidies for many exported items. Currency manipulation that allows China to undervalue the yuan is another weapon because it makes the country's exports cheaper. He groups rampant counterfeiting, piracy and "theft" of American intellectual property as a weapon.
China's lax enforcement of environmental and worker safety regulations give the country an unfair advantage. Lack of regulation not only harms the planet and people, but make Chinese goods cheaper because manufactures don't have regulation compliance costs,
[URL]http://www.deathbychina.com[URL]