Block, Siteadmin, SkipCaptcha, Upload, Automoderated users, delete, edit, move, nsTeam2RO, nsTeam2RW, nsTeam2_talkRO, nsTeam2_talkRW, protect, rollback, Administrators, template
295,844
edits
Changes
Jump to navigation
Jump to search
Line 446:
Line 446: + +
→WTO membership
[[File:2018 trade deficit.jpg|thumb|500px|right|U.S. trade deficit with China. The difference between the red line and blue line represents an outflow of American wealth - [[capitalism|capital]] that could be used to create American jobs rather than jobs in China and prosperity for the [[Chinese Communist Party]].]]
[[File:2018 trade deficit.jpg|thumb|500px|right|U.S. trade deficit with China. The difference between the red line and blue line represents an outflow of American wealth - [[capitalism|capital]] that could be used to create American jobs rather than jobs in China and prosperity for the [[Chinese Communist Party]].]]
Despite the CCP's human rights abuses in the Tiananmen massacre, no trade sanctions were ever leveled by Western Powers and globalists. China was rewarded for its human rights abuses in 2001, despite the absence of reforms, by being welcomed into the World Trade Organization with full membership and a year later granted [[Most Favored Nation]] trade status by the [[U.S. Congress]]. China formally joined the World Trade Organization ([[WTO]]) in December 2001.
Despite the CCP's human rights abuses in the Tiananmen massacre, no trade sanctions were ever leveled by Western Powers and globalists. China was rewarded for its human rights abuses in 2001, despite the absence of reforms, by being welcomed into the World Trade Organization with full membership and a year later granted [[Most Favored Nation]] trade status by the [[U.S. Congress]]. China formally joined the World Trade Organization ([[WTO]]) in December 2001.
According to the Council on Foreign Relations (CFR), nearly 6 million U.S. manufacturing jobs were lost between 1999 and 2011, with a study published by the University of Chicago attributing almost 1 million of these manufacturing job losses and 2.4 million total job losses to competition with China. Meanwhile, according to the same CFR report, multinational corporations such as Apple have benefited from increased access to China’s market. Consumers in the Greater China region accounted for approximately 15 percent of Apple’s revenue in 2020.<ref>https://www.theepochtimes.com/two-decades-after-joining-china-remains-woefully-short-of-meeting-wto-pledges-report_3938153.html</ref>
By 2017, the imposition of [[tariff]]s by U.S. President [[Donald J. Trump]] began to redress the imbalance of a half-trillion dollar a year [[trade deficit]] and the outflow of American wealth to China. China's economy was developed over those early decades of the 21st century as a coastal, manufacturing economy entirely dependent on exports. Young people left their home villages in the countryside to seek work in coastal factories. The prosperity was all built on access to the U.S. consumer market, and Americans' appetite for cheap manufactured goods. Scant attention was paid to developing a domestic service sector economy, while the vast interior remained impoverished, and increasingly so as young people abandoned rural agricultural work for urban factory work.
By 2017, the imposition of [[tariff]]s by U.S. President [[Donald J. Trump]] began to redress the imbalance of a half-trillion dollar a year [[trade deficit]] and the outflow of American wealth to China. China's economy was developed over those early decades of the 21st century as a coastal, manufacturing economy entirely dependent on exports. Young people left their home villages in the countryside to seek work in coastal factories. The prosperity was all built on access to the U.S. consumer market, and Americans' appetite for cheap manufactured goods. Scant attention was paid to developing a domestic service sector economy, while the vast interior remained impoverished, and increasingly so as young people abandoned rural agricultural work for urban factory work.