This is how Donald Trump recently described China: “They’re making all our products. They’re taking all our jobs. And then they loan the money back and we pay them interest. It’s an amazing phenomenon.”
A strong statement, but only one-third of it is true.
China is not making all of our products. Imports of goods from China are just 2.5 percent the size of the U.S. economy.
China is also not taking all our jobs. According to Heritage Foundation analyst James Sherk, “Research shows that trade has had little effect on overall manufacturing employment. Instead, it has shifted jobs from less productive firms to more productive domestic firms.”Continue reading on blog.heritage.org