just as the trend of 40 years begins to reverse we get a flood of insight
"..A new --NBER-- study ....shows that the rapid rise in low-wage manufacturing industries overseas has indeed had a significant impact on the United States. "
"The disappearance of U.S. manufacturing jobs frequently leaves former manufacturing workers unemployed for years, if not permanently, "
".... creating a drag on local economies
and raising the amount of taxpayer-borne social insurance
necessary to keep workers and their families afloat "
file this under
"put some numbers to it ":
"A city at the 75th percentile of exposure to Chinese manufacturing,
compared to one at the 25th percentile,
will have roughly a 5 percent decrease in the number of manufacturing jobs
and an increase of about $65 per capita in the amount of social insurance needed"
".. $65 per capita wipes out one-third of the per-capita gains
realized by trade with China, in the form of cheaper goods"
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what's obvious thru the front windshield
becomes conventional wisdom
only in the rear view mirror
