2.4 Million Americans Are Jobless Due To Trade Deficit With China And Its Currency Manipulation

[Omaha Steve]

Source: Workers Independent News

By Doug Cunningham

Millions of American workers are jobless because China has manipulated its currency and used trade agreements to flood America with artificially cheap goods. Congress is considering legislation to penalize China for its currency manipulation to try to protect U.S. jobs. The Alliance for American Manufacturing is a partnership between the United Steel Workers and some Fortune 500 companies trying to keep jobs in America. AAM’s Scott Paul.

: “Across every state - not only the industrial heartland and the industrial heartland of the south, but also in places like California, Oregon and Minnesota we've seen massive job loss. In fact 2.4 million jobs lost since China joined the World Trade Organization."

Democratic New York U.S. Senator Chuck Schumer says action must be taken to stop China from manipulating its currency and throwing American workers onto the unemployment lines.

: “Since 2001 America's lost 2.4 million manufacturing jobs because of our trade gap with China, which has ballooned due to China's undervalued currency. We cannot ignore the impact of these jobs anymore.
Right now one in ten workers is out of a job in America - 15 million Americans. This report shows that if China were playing by the same rules as the U.S. 2.4 million of those workers might be collecting paychecks instead of job hunting."

Republican Senator Lindsay Graham is working with Schumer to support legislation aimed at changing Chinese behavior on currency valuation.

Read more: http://www.laborradio.org/node/13172

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OS

[Grand Taurean]

1. K/R for these stories.

[Psephos]

2. Interesting story, but wrong forum. n/t

[OhioChick]

3. Rec'd n/t

[The Doctor.]

4. I've been stocking up on Yuan in case China untethers it from the Dollar...

:rofl:

Just kidding!

[Odin2005]

5. The China Apologists will be along shortly to flame you.

[smiley_glad_hands]

6. I think they got the night off.

Otherwise they would be all over this thread like white on rice.

[smiley_glad_hands]

7. k & r nt

[Earth Bound Misfit]

8. Kick n Rec.