"The China trade toll: Widespread wage suppression, 2 million jobs lost in the U.S."

Source: "The China trade toll: Widespread wage suppression, 2 million jobs lost in the U.S." by Robert E. Scott, Economic Policy Institute Briefing Paper #219, July 30, 2008.

"The growth of U.S. trade with China since China entered the World Trade Organization in 2001 has had a devastating effect on U.S. workers and the domestic economy. Between 2001 and 2007 2.3 million jobs were lost or displaced, including 366,000 in 2007 alone. New demographic research shows that, even when re-employed in non-traded industries, the 2.3 million workers displaced by the increase in China trade deficits in this period have lost an average $8,146 per worker/year. In 2007, these losses totalled $19.4 billion."

The article continues to analyze the indirect effects of the trade with China on the U.S. Economy, the trade deficit, and the impact of China's entry into the World Trade Organization.