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For those who want a good explanation of why jobs moving to China has
had almost no impact on US unemployment:
http://yaleglobal.yale.edu/display.article?id=2899
" Calls for "fair trade" or bilateral trade balances have no logic aside
from populist quick fixes. China may well decide to revalue its currency
for its own reasons, but this would have only a very limited impact on
displaced US workers. For most goods the US imports, a stronger Yuan-
worth 6.0 instead of 8.3 per dollar- would not shift production back to
the US, though it might help Vietnam or Mexico. Higher prices in
Wal-Mart might also mean fewer domestic purchases of services- the major
source of US jobs now.
The fact is manufacturing in the United States is going the way of
agriculture. The US produces enormous amounts of food with only 2
percent of the workforce. In the future, rising productivity will allow
high and growing manufacturing output with even fewer workers than the
11 percent of the American workforce now employed in factories. Trade
might mildly accelerate this trend away from manufacturing jobs, but it
certainly won't cause it."
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