24
May
12

Newslink: Are we bringing jobs back from China?

WATCH: Are we bringing jobs back from China? — MSNBC’s The Dylan Ratigan Show | Alliance for American Manufacturing. Video from the Dylan Ratigan Show on MSNBC on May 18, 2012, 8 minutes and 55 seconds. Mainpoints: US has lost 1.9 million manufacturing jobs in the last decade. Exports to American has created 20 million jobs in China. But with increasing costs in China due to increase of wages and property, 20% of companies are thinking of re-shoring (bring back to the US) jobs. Overall, average import taxes into the US is 2.5% (plastics, toys and electronics 0%), but 25% import taxes into China.  Not mentioned in this video link is the artificially de-valued Chinese Yuan which may be 40% less than the dollar in value – which is why the oursourcing continues. Reshoring is a trickle, maybe it could be a “trend” if the Government backed this trend of bringing back jobs to the U.S. (instead of listening to the multi-national corporations these corporations do not care about trade deficits – for them it is like transferring money from one coat pocket to another pocket with the preferred pocket being the Chinese pocket due to the de-valued Yuan).

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