China Shock Has Decimated 5.7M U.S. Jobs Since the 2000s. Now, It’s Back. | WSJ Then vs. Now 

Well said.

💯 USA took all the benefits, made a ton of money and now acts like they're the victim

totally correct. The only thing that need blame is that China didn't keep only on those low-cost low-end jobs and emerge on high-tech.

While American companies have outsourced production to Asian countries, this strategy has mutually benefited both regions by driving economic growth, lifting millions out of poverty in Asia, and preserving competitiveness in the U.S. High-tech and innovative sectors have flourished in America, creating skilled job opportunities and advancing technology. The portrayal of Americans as living luxurious lives at the expense of others overlooks the significant contributions of American workers across diverse sectors. Geopolitical tensions are complex, involving political ideologies and global leadership roles, not just economic strategies. This interdependence has fostered global connectivity and cooperation, highlighting the need for constructive dialogue to address global challenges together.

@@passiveincomeguide7090”Lifting millions out of poverty in asia”- bro, go check yourself in the head, you’ve been feeding yourself too much american propaganda. Compare the wages, inhumane working conditions, and exploitation of workers in asia. How can you say millions of people are lifted out of poverty, when US corporations need to install suicide prevention nets in their factories?

I dont want to be a corporate bootlicker, but the end American consumer also greatly benefitted from outsourcing. Everyone wants to support American businesses till its time to pull out the checkbook

China did for sure and these companies had to give up trade secrets to enter china.

Right

@@kulnoorxseriously

@@kulnoorx Are cheap Chinese goods worth it at the expense of the American Worker? NO.

The Owning Class decides and the Talking Class sells the decision to the Working Class. The Talking Class is running scared though, in the age of AI and outsourcing.

@@Catofsteel yes and it’s the fault of that factory worker who was paid 1 dollar a day on that factory floor

And why do they do that, and who do they answer to? The answer is YOU the end consumer who chose cheaper Made in China products yourself.

@@tom23245 Don't blame consumers who are subjected to the inflation/price control squeeze first imposed by Nixon where wages were frozen while prices continued to skyrocket! Some of us are old enough, and historically literate ehough, to have retained the memory of the inconvenient past. Capitalists sought to "tame" workers by shipping our jobs overseas and now seek a scapegoat (but they're not bringing them back, they'r planning to send them to India, or Africa, or anywhere else)

@Polit_Burro No, people are just cheap regardless of what ideology you subscribe you. Between buying 1 excellent quality shirt made in the US for $50 or 10 low quality synthetic fiber shirts from Shein, you know they're picking Shein (because that already happened). The same applies for every other product, be it furniture, kitchenware, appliances, etc.

Exactly! I'm not a fan of China. But did 5.3M jobs lost reflect unemployment rate? 100% of horse buggy manufacturing is dead, doesn't mean all the workers in that trade ended up jobless.

Because it would highlight class inequality, and this is News Corp.

Why would people losing their job care about that?

Yes. While some lost their jobs, the main beneficiary of lost-cost goods were people who shopped at Wal-Mart. In a way, China was helping keep the cost of living low for many of the low-income Americans.

Because the every day working person is getting shafted while "US Firms" make out like bandits. A small few benefit and the vast majority are damaged.

True, actually there are many Chinese companies are willing to invest in the U.S and creating jobs but the U.S gov wont let it happen, for example BYD EV cars.

The vision was to improve the profits for companies so more goodies can be given back to wealthy shareholders.

Cutting prices is the main goal of major corporations

In 2010 I gave up my apartment lease to another American who was working in Shanghai. He worked for a tech firm that was a leader (at the time) of solar panels. Part of the deal that they had to set up shop in China was that they technology transfer as part of the contract. Fast forward 14 years later, and that does seem a rather short-sighted decision for his company.

@@luckyh1217because it would hurt or drive American and Japanese companies out of business. China is not an ally so why would you give your rival the ammo to shoot you with?

I’m a victim of this, jobs I used to work are completely gone from the US

6 million jobs lost to China aren't small numbers Buddy even if it's cheap, it still costs for trillions of dollars

@@ChandanMishra-ql1bi Sure the Americans may have lost 7 million manufacturing jobs from the height of their manufacturing days. But they gained 53 million service sector jobs 33 million of them higher paying jobs than their manufacturing jobs So with more jobs, more higher paying jobs, and added saving from imported goods did the average American Invest, save, or even throw that money under the mattress???? No they spent those added earnings, and thenborrowed to spend some more 👇 The U.S. Lost 7 Million Manufacturing Jobs--And Added 33 Million Higher-Paying Service Jobs It’s also nonsense. The truth is that America has lost some 7 million manufacturing jobs and added some 53 million jobs in services. This is just what happens with advanced economies-it’s easier to increase productivity in manufacturing than it is in services, this is the heart of Baumol’s Cost Disease. As it was easier to increase productivity in agriculture through mechanising it than it was in manufacturing. Thus, over time, the proportion of the workforce engaged in agriculture falls, so too does the proportion in manufacturing. And given that services (with a couple of small adjustments for mining, construction and utilities) is the name we give to all the rest of the economy therefore an increasing portion of the labour force ends up in services. Further, of those 53 million new jobs some 62% of them were in higher paying occupations than those “high paying good jobs” in manufacturing we lost. Yes, really, 33 million higher paying jobs came along to replace those 7 million lost. Which does, when you look at those numbers properly, seem like rather a good deal. Forbes

​@@ChandanMishra-ql1biDon't try to deflect the current loss to India of white collar jobs!

Exactly! And the jobs are not back, they are just moved to India, Vietnam, Mexico, etc. The corporates will keep the money to their shareholders instead of sharing a dime with the workers or the consumers. Now we just ended up with more expensive goods. This video is so biased

Hard to compete with near slavery

Thus, indirectly China is destroying US jobs.

more like American companies are too greedy and don't want to invest, they just want easy pickings

​@octonoozle have you seen their manufacturing ecosystem? it's crazy

It is at this point

And unemployment in the US is at an all time low.

@@teoengchin they blame Japan for that!!!

Because other third countries entered the picture. China isn't special, it's just not a good competitor

China entered the picture before the 80's though dude lol

@@TheCommonSensible And other countries

What worse is both US corporations and government dont reinvest their gained extra profit and taxes efficiently back into US infastructure, healthcare, education.. and have the audacity to blame other countries for its failure

China isn't entitled to American markets, wumao

True, but you're from a Chinese propaganda farm

@@stoonookw Hey, let's not rule out the Russians or Saudi Arabia..

YES; American good export and manufacturing jobs start reducing in 1972 , and America shifted to service based and to print a lot more money

From the comments, there are many fools in the audience

not everyone is educated like you; clearly, you are not their target audience.

Harbor freight

The Irony of APPLE Inc Products👀 Designed in California, Assembled in 🇨🇳

@@Booz2020is that really ironic? I really do think… it’s not. :) (Seriously, though: Apple was one of the last tech firms to move manufacturing to China, and only did so when so many of their competitors did that the cost of keeping US manufacturing was no longer sustainable. Even then, they STILL produce some of their higher-end products in the US. If you weren’t around, or paying attention to tech, during the time US computer-manufacturing was slowly disappearing, you should know that Apple was under constant fire from computer buyers for the dramatically-sigh prices of their US-made machines back then. They’d already cut back on the quality of their mid and low range offerings… which their older customers decried; so the only options they had were to make the stuff to even lower standards, or to offshore (the verb) manufacturing. “Designed in the US”, in this case, is actually a big deal, as it shows they still drew the line somewhere. Other tech companies would’ve moved EVERYTHING overseas, designers and makers alike.)

@@axelkincaide6045Yeah, Im not sure with ya explanation 💬 It's just, Die Hard Apple FanBoy will always buy Apple products no matter how Expensive ARE their prices 👀

Americans don't get irony.

😂😂

🎉Génie story 😂

America/ western propaganda

Why don't you tell us the other side story, wumao?

How do you think Japan, South Korea, and China build up their industries? Their protectionism makes America look like a joke.

Chasing ever higher profit margins and the constant need to report "growth" brought us here. It's a race to the bottom.

很难想象

they've been doing this for ages, where have you been?

@@AZ-rg3rf some of their columnists are pro-free trade

There are three Stooges wanting to become the Next President. They have a limited knowledgs of the economy. They still believe we are an economical superpower. They won't tell us how they will deal with coming crash. It will be so bad that America will become a third world country almost overnight.

It is what American politicans do, and heart breakingly, so many of the population follow with no questions asked

If Us keep doing this and let the guilty politicians get away with it, Us will go to toilet for sure

Yeah and what does China do during the Hong Kong Protests? Russia during Euromaidan?

@@dfdf-rj8jr China successfully decimate CIA’s plan during Hong Kong protest. Consul General Julie Eadeh met with the leaders of the protest right before it happened. There are photos everywhere.

They’re more expensive labor than they used to be which is why companies are shifting to other East Asian countries and Mexico.

Those automated BYD factories are run 24/7. Save the robots !.

Bc it is the truth?

Its like saying US is on par with Haiti in terms of gun violence 😂. You are a fool ​@MNTrader2012

@@MNTrader2012 haha dream on, the real truth is that u lived far and beyond ur own means. 37 trillion debt and counting.

love ur critical thinking

As long as I don't have to pay a fine for working.

How do you figure that? Did you read that from forum or sites populated by Russian trolls and Chinese wumao?

@@MNTrader2012 ? If your product gets 25% tarrif added on, as a business person it is obvious you will charge consumer to make up the difference

I guess Chinese companies will not sell in U.S. but other companies use China’s supply chains will

What does this even mean

It looks like you've had too much to *think* - I would be careful, lest a Uniparty Thought Police Drone catch you committing wordcrimes against the System.

1960s was the beginning of the era of "Made in China (ROC)" and the 1980s was the era of Made in China"

The mail is almost obsolete, and yes email is the biggest single reason.

Indoensians : Stand With Palestine, Trade with 🇨🇳 Urra🇷🇺 End 🇺🇲Aid to Israel💵 Also Indoens: Guys please, Move to BALI 🤣😂

They're not building EV manufacturing the USA; that's the whole point of the tariffs.

@@philipthecow they are not building or they are not allowed to build

Then they'll have to ban those companies once they start making too much money because NAtiOaL sECuriTY

And that helped who? The Cheneys? The Sacklers?

@@DonaldDucksRevenge That helped all the folks that bought imported goods as well. I mean the Dollar, not the war.

@@huckleberryfinn6578 Helped them to see their way out of jobs to buy things with? Helped wages stagnate and CEO pay increase? That it helped

cheaper goods from China don't make USD stronger; China's purchase of the US Treasuries does.

All bot comments get through

non un patron😎 pense d"abord a sa gueule avant son pays🤗🤑

Capitalism

​@@badbadbadcat it's called greed it exists in every economic system including communism

@@norger not greed but profiteering. a pure capitalist characteristic

@@badbadbadcat that's a lot of syllables for Greed again

It's more likely that the lowest income Americans will bear the cost of this in the form of high inflation. Blue collar manufacturing workers will do fine and will be in a strong position to negotiate their wages if the federal government is throwing their full weight behind this onshoring effort. With all policies, there are winners and losers.

If they paid decent like they did in the 90s, people would work it.

Worse researches lol no this is made that way on purpose. Can't have the masses blaming the corporate elites and politicians.

Yet we say we'll go to war against China if they invade Taiwan but still continue to buy products made in China

American products lasted way way longer.

@@frankgrabasse4642 and how was your standard of living back then?

@@huntebj Good paying union job. Gone now....

@@frankgrabasse4642Ask Boeing who is real U.S. product

❤❤

US is still a rich country with plenty opportunity to go around. Just have to rid of the career politicians, the useless warhawks with delusion of grandeur and 19th century imperialist mentality syndrome, and put in someone who actually know how to run a modern economy, fix crimes, education and healthcare...

then companies will be lazy and start made bad products just like Boeing

That is on top of a war with Russia. Most likely they get what they wishing for.

If China wasn't constantly threatening their neighbors with invasion, then such rhetoric would be unjustifiable. But right now China is basically foreshadowing plans to engage in Nazi style imperial conquests, complete with whole races of people in concentration camps to boot. You might want to research the Uighur Muslim's sometime. So the framing of this as yellow peril rhetoric is about as invalid as you could possibly get. You seriously need to do more research on what China is doing and foreshadowing. There is a reason why Japan is significantly bolstering its military. And likewise India. The threat of China is very real.

Yeah nice try, "Kevin Jenner"

To put money into the civilian economy, all the government has to do is stop taxing us for working.

We already witnessed how senile Biden screwed up Afghanistan. The US is now funding two new wars.

Indoensians : Stand With Palestine, Trade with 🇨🇳 Urra🇷🇺 End 🇺🇲Aid to Israel💵 Also Indoens: Guys please, Move to BALI 🤣😂

USA has the highest income in the world, adjusted for government transfers. Keep coping

Right

⁠ Sure the Americans may have lost 7 million manufacturing jobs from the height of their manufacturing days. But they gained 53 million service sector jobs 33 million of them higher paying jobs than their manufacturing jobs So with more jobs, more higher paying jobs, and added saving from imported goods did the average American Invest,save, or even throw that money under the mattress????? No they spent those added earnings, and then borrowed to spend some more 👇 The U.S. Lost 7 Million Manufacturing Jobs--And Added 33 Million Higher-Paying Service Jobs It’s also nonsense. The truth is that America has lost some 7 million manufacturing jobs and added some 53 million jobs in services. This is just what happens with advanced economies-it’s easier to increase productivity in manufacturing than it is in services, this is the heart of Baumol’s Cost Disease. As it was easier to increase productivity in agriculture through mechanising it than it was in manufacturing. Thus, over time, the proportion of the workforce engaged in agriculture falls, so too does the proportion in manufacturing. And given that services (with a couple of small adjustments for mining, construction and utilities) is the name we give to all the rest of the economy therefore an increasing portion of the labour force ends up in services. Further, of those 53 million new jobs some 62% of them were in higher paying occupations than those “high paying good jobs” in manufacturing we lost. Yes, really, 33 million higher paying jobs came along to replace those 7 million lost. Which does, when you look at those numbers properly, seem like rather a good deal. Forbes

@@DW-op7ly buddy you’re preaching to the choir, I agree. It’s the negative spin that Republicans put saying illegal immigrants are stealing American jobs, they’re not lol

Those were the jobs that they couldn't outsource. There's a reason why white male middle aged men have been the second leading demographic for self-cancellation of their lives (we can'ts speak plainly any more thanks to our thoughtlords among the TAlking Class who have reserved certain words for themselves, the more better to control their meaning and use)

The USA is just lucky China does not think in zero-sum game theory ways Americans/we in the west would be literally dropping like flies if they did 👇 U.S. officials worried about Chinese control of American drug supply "Basically we've outsourced our entire industry to China," retired Brig. Gen. John Adams told NBC News. "That is a strategic vulnerability." If China shut the door on exports of medicines and their key ingredients and raw material, U.S. hospitals and military hospitals and clinics would cease to function within months, if not days," said Rosemary Gibson, author of a book on the subject, "China Rx." NBCNews 👇 China's lock on drugs Two pillars of Trump administration policy - combating the soaring prices for prescription drugs and equalizing the U.S. trade imbalance with China - appear to be on a collision course, drug and foreign policy experts say. That's because the key ingredients for so many essential drugs, from antibiotics and birth control pills to treatments for cancer, depression, high cholesterol and HIV/AIDS, are purchased from China, says Rosemary Gibson, co-author with Janardan Prasad Singh of a new book called "ChinaRx: Exposing the Risks of America's Dependence on China for Medicine." CNBC

@@user_28943 they moved manufacturing to China, and investment, because they believed if China is completely reliant on the US for growth, and progress, China would become more liberal and pro American. That was the whole idea... To eventually influence China to follow the US. They are changing now because they realised that plan didn't work. They are resorting to desperate measures to curb China's growth. But it's too late lol China is too big now...

LOL You'll never guess who the US bought concrete aggregate from in the 1960s for use in Vietnam....

Actually Chinese companies would supply on time. They mean business

@@badbadbadcat US "Heroes in Uniform" are still witing for those Anti-ballistic vests they were supposed to get in 2003 before the illegal and unprovoked invasion of Iraq LOL

"We cant let China do this to us" Meanwhile... They are shipping all their jobs to China. -Thing is. They want tax breaks, economic incentives, bailouts, guarantees and exemptions from rules and regulations before they consider bringing jobs back to the US.

Indoensians : Stand With Palestine, Trade with 🇨🇳 Urra🇷🇺 End 🇺🇲Aid to Israel💵 Also Indoens: Guys please, Move to BALI 🤣😂

Get over yourself

Nope . Usa created wars . China created everything else

Sorry, mr chinaman. The way your leaders pursue this with stealing and government support in order to drive out competitors to rule the market is NOT a natural evolution or competition.

Not necessarily. If all else is held equal, then yes. But China HEAVILY subsidizes certain industry. It’s not “fair” at that point. But I agree, increased tariffs isn’t the solution because yes, we citizens pay a higher price.

A good example to your point is US ship building industry.

Everyone does not lose if a country like the USA imposes tariff walls against China. The workers who are employed in the corresponding US company will gain along with the companies that supplied to this company, marketing company, distribution company etc etc. They all gains. Consumers are also workers. If the consumers lose their jobs, how can they pay for their consumptions. The country also gains as its trade deficits will be lower.

This is the MBA nonsense. It doesn't factor geopolitics

Back then a few developed capitalist countries forced 'free trade' idea into the world so they can gain new export market in poor countries with zero opposing competition in manufacturing, and buy poor countries resources at dirt cheap rate to fuel their own economy. It's pretty much neocolonialism. Now they are reverting to protectionism and tariff when other countries had catched up and they cant compete.

They’re in denial. And fighting hard. But they know deep down that time’s up for western “domination” of these sectors.

Trump to the rescue

@@AlexMAGA2024 100% tariffs on BYD cars are still cheaper than Tesla comparable models. It's over.

Yes, why does the WSJ Talking Class hate cheap auto transport for American workers who they've starved and abused?

China uses slaves. Are you saying people are entitled because they don't want to be a slave?

I know what I want to do now that the market is in decline, but I'm not sure which stocks to buy, which investments would generate the best returns, etc. Due to the risk, the possible benefit is larger, and experts are better at drafting such precise contracts.

In fact, despite having no experience or prior knowledge when I began investing in 2018, by the end of 2019 I had made a profit of over $750k. I had merely been adhering to the advice that my financial counselor had given me. This demonstrates that all you really need is an expert to assist you; you don't even need to be a great investor or put in a lot of work.

That's amazing! Given my failing portfolio, I could really use this manager's abilities. Who exactly has authority over you?

Her name is “TERRI ANNETTE MOORE” can't divulge much. Most likely, the internet should have her basic info, you can research if you like

I just googled her and I'm really impressed with her credentials; I reached out to her since l need all the assistance l can get. I just scheduled a caII.

Can you name 1 product in that sector that's superior to its US counterpart?

US is the leader in both AI & robotics and by a huge margin...

​@@realharo Runway

@@djpuplex That's a US company (if you're talking about the video-generating AI)

@@realharo 美国 AI 主要在服务业，中国 AI 主要在制造业。你不知道，不意味着他们不存在。中国工业机器人密度，不但是数量是世界前三的。自己去查

The quality of made in China recently is quite decent given the price per quality due to automation takes over, economies of scale, skilled labour and the underlying infrastructure.

That applies in China too. Pay more, get a good product.

You do realize alot of high quality brands products are still made in china, or use parts made in china right?

Get out taiwan bot

Chinese gov relies too heavily on certain industries like manufacturing and real estate. They artifically prop up industries they like (even if it doesnt make strategic economic sense like overinvestment in manufacturing) and disrupt industries that displease them (even if they will strengthen their economy like tech / gaming aka tencent and retail aka alibaba). Alibaba was the amazon of china until founder Jack Ma angered the chinese gov. Now companies like Temu have taken charge and made things a race to the bottom in China where people barely make money from selling dirt cheap products.

​@@AJ-jx5gmThe industries chosen by the Chinese government are fron their predatory behavior.