Saturday, March 14, 2020

China jobs

In 1980 China's communist government opened up it's economy to free market principals. It took about ten years to get started but in 1990 the GDP was $350 billion and today it is $14 trillion. When China made the move to the free market many experts predicted that when people get economic freedom they want political freedom. With that in mind the US tried to help China by buying their products hoping it would open the government to freedom. Industry and government worked together to not only buy products from China but to move US businesses to China. China's rapid economic growth has led to a substantial increase in bilateral commercial ties with the United States. According to U.S. trade data, total trade between the two countries grew from $5 billion in 1980 to $660 billion in 2018. In the process the US exported many blue collar jobs which resulted in the shrinking of the US middle class. Some of these jobs present a danger to the US. Case in point. China has become the sole provider of ingredients necessary for the pharmaceutical industry.

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