Hey there! 👋 Have you ever heard that trading with other countries can cause people to lose jobs? Well, a new report says that might not be the whole story! Let’s dive in!
Recently, U.S. Treasury Secretary Scott Bessent claimed that 3.7 million Americans lost their jobs because of things made in China coming into the U.S. 😲 But a think tank called the Civitas Institute looked into this and said, “Wait a minute, that’s not quite right!”
They found out that the number might be a lot less – maybe even two to four times less! That’s like saying you have 4 cookies 🍪, but really you only have 1 or 2.
The Civitas Institute also pointed out that some studies used by Bessent might not be super accurate. They compared places that got lots of stuff from China with places that didn’t, but they might have missed important details.
Guess what? In some areas, making things (that’s called manufacturing!) actually did better even when they got more imports from China! 🤔 So it’s not always a simple story.
Also, people have been losing manufacturing jobs in the U.S. for a long, long time – even before trading with China got bigger. One big reason is technology. Robots 🤖 and machines can do a lot of work now!
Between 2001 and 2024, even though there were fewer manufacturing jobs, the U.S. was making more stuff than ever before! That’s like having fewer cooks 👩🍳 in the kitchen but making more food!
So, while some jobs go away, new jobs appear, especially in areas like technology, management, and professional work. Think about cool tech jobs or being a designer! 🎨
The report says we should help people who lose jobs because things are changing. It’s important to support them so they can find new and exciting opportunities!
Isn’t it interesting how the world works? 🌍 Let’s keep learning and asking questions!
Reference(s):
Report debunks U.S. Treasury chief's claim on China trade job losses
cgtn.com
