久久亚洲国产成人影院-久久亚洲国产的中文-久久亚洲国产高清-久久亚洲国产精品-亚洲图片偷拍自拍-亚洲图色视频

Global EditionASIA 中文雙語Fran?ais
Opinion
Home / Opinion / Op-Ed Contributors

US must act constructively to seek trade relief

By Zhang Yongjun | China Daily | Updated: 2018-05-03 07:46
Share
Share - WeChat

In an article in the Financial Times on April 9, White House Trade Advisor Peter Navarro claimed the trade deficit with China since 2001 caused the loss of millions of manufacturing jobs in the United States during the George W. Bush and Barack Obama administrations.

Navarro seems to be influenced by a report prepared by Robert E. Scott, senior economist at the Economic Policy Institute, and some other assessments. Due to the trade deficit with China, 3.4 million jobs were lost between 2001 and 2015, nearly three-fourths of which were in manufacturing, Scott wrote in the report issued in January 2017.

But Scott measures only the influence of the import-export balance on the total demand without taking into account the role imports and exports play in improving resource distribution efficiency, especially the role of imports in improving supply and increasing employment. His flawed methodology therefore makes his conclusion untenable.

Trade helps give full play to a country's comparative advantages and offsets its resource shortage. This is an important reason why trade is beneficial to all the parties involved.

In his report, Scott assumes foreign trade does not have any positive effects on employment in the US' wholesale, retail and advertising sectors, because marketing means are needed to sell all the products, whether they are made in the US or imported. In so saying, Scott ignores the fact that a large number of laborers are required to provide the follow-up services needed for the distribution of the imported products.

Owing to their strong employment generation capacity, the wholesale and retail sectors account for nearly one-eighth of the private sector jobs in the US. For instance, Wal-Mart employs hundreds of thousands of people in the US for selling large quantities of the goods imported from developing countries, including China. In fact, the retail sector already employs more people than the manufacturing sector. It is only for political reasons, therefore, that Scott said wholesale and retail, which are closely related to the US' import and export sectors, have "zero" influence on employment expansion.

Besides, Scott distributes the job losses allegedly caused by the trade deficit with China to different states. This methodology is unscientific, because compared with the overall industrial system of the US, some of its states don't have a comprehensive industrial setup and their production capacity in certain fields is rather weak, which means the import of some Chinese products don't cause any jobs losses or displacements at the local level.

As such, there are not many correlations between the US' jobless rate and its foreign trade deficit. For instance, in 2006, the US' current account deficit was $805.9 billion, the biggest in its history, and the ratio of its current account deficit to GDP was 5.8 percent, a record high. But the US' jobless rate that year was 4.6 percent, much lower than its average long-term 5.6 percent jobless rate. And although this ratio gradually declined from 2007 to 2009, the jobless rate showed a rising trend.

The extension of Scott's methodology would also lead to another incredible conclusion. For argument's sake, let us assume his estimation of the influences of the US' total trade flow on its employment rate is correct. In that case, the use of the same methodology and parameters to calculate the influences of the US' total trade deficit on its employment rate from 2001 in 2015 will show that in some specific years during this period, the number of lost or displaced jobs due to the trade deficit was larger than the total number of jobless people in the US.

This means that if the US had struck a trade balance during those years, it would have not only eliminated unemployment, but also faced a labor shortage. Such a conclusion would be contrary to the fact that quite a large number of people in the US remained jobless even when the US managed to strike a trade balance or had a trade surplus.

Given the flaws in Scott's methodology, any conclusion based on it would be unscientific, and thus mislead the US Congress, administration and public. This is why many research institutes and agencies have criticized his report. But pretending that Scott's report is flawless, the US government still uses it as an excuse to launch trade protectionist measures against China. Such actions will not only harm Sino-US trade relations but also hinder the development of the very US economy that the Trump administration wants to protect.

The author is a researcher at the China Center for International Economic Exchanges.

Most Viewed in 24 Hours
Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 欧美日本亚洲国产一区二区 | 色aaa| 欧美精品一区二区三区免费播放 | 真人一级毛片全部免 | 成人性色生活片全黄 | 不卡午夜视频 | 国产成人丝袜视频在线视频 | 久久最新免费视频 | 三级网站大全 | 69国产成人综合久久精品91 | 性色xxx| 狠狠色丁香九九婷婷综合五月 | 欧美亚洲视频一区 | 欧美视频区| 国产成人精品日本亚洲专一区 | 久草福利资源在线观看 | 欧美亚洲在线 | 全部aⅴ极品视觉盛宴精品 全部免费a级毛片 | 超清波多野结衣精品一区 | 成人永久免费视频 | 国产深夜福利视频在线播放 | 免费看成人片 | 久久综合香蕉久久久久久久 | 亚洲国产精久久久久久久 | 中文字幕在线视频网站 | 免费一级做a爰片性色毛片 免费一极毛片 | 扒开双腿猛进入喷水免费视频 | 成年人免费观看的视频 | 国产精品久久久久久久福利院 | 国产激情一区二区三区成人91 | 欧美成人精品高清在线观看 | 成年人免费观看的视频 | 亚洲国产精品免费观看 | 亚洲天堂网在线观看视频 | 高清国产一区二区三区 | 精品在线观看一区 | 波多野结衣中文一区二区免费 | 亚洲性生活视频 | 欧美三级日韩三级 | 亚洲精品视频在线观看视频 | 草草草影院 |