Trade deficit with China not related to ‘US job decline’

The United States’ trade deficit with China is not directly related to the decline in US manufacturing jobs, according to a research report released by the Ministry of Commerce (MOC) yesterday, reports Xinhua.
“A number of studies have shown that the reduction in U.S. manufacturing jobs is ascribed to technological progress and industrial upgrading, which is not directly related to the U.S. trade deficit with China,” stated the Research Report on China-US Economic and Trade Relations.
China has made great efforts to cut the trade surplus. Focusing on expanding domestic demand, the Chinese government has intensified its economic restructuring via increased public investment and enhanced private investment in many aspects, with the aim to constantly expand its domestic market, said the report.

 

Trade deficit with China not related to US job decline

The United States trade deficit with China is not directly related to the decline in US manufacturing jobs, according to a research report released by the Ministry of Commerce (MOC) yesterday, reports Xinhua. A number of studies have shown that the reduction in U.S. manufacturing jobs is ascribed to technological progress and industrial upgrading, which is not directly related to the U.S. trade deficit with China, stated the Research Report on China-US Economic and Trade Relations. China has made great efforts to cut the trade surplus. Focusing on expanding domestic demand, the Chinese government has intensified its economic restructuring via increased public investment and enhanced private investment in many aspects, with the aim to constantly expand its domestic market, said the report.