Tuesday, July 23, 2013

MIT's autor(david ) onimport impact on high wage low wage

"American factory workers with high wages generally took an initial sharp financial hit
 when the “trade shock” of Chinese goods hit their industry
 between 1992 and the beginning of the recent financial crisis"

"Yet those high-earning workers tended to migrate successfully to different jobs
and suffered less financial harm over the years
 than low-wage U.S. workers,
who generally faced reduced pay and higher unemployment for years"