Study Claims: China Took U.S. Jobs. Chinese imports cost U.S. 2.4 million jobs in 12 years. [Source: Autor: Dorn & Hanson, 2016.] “The Chinese took our jobs and destroyed our economy.” DEAD WRONG!
The U.S. economy loses almost 5 million jobs every month? And who created most of those jobs? The companies most exposed to Chinese competition. Sure, they lost some jobs but they created more new jobs, in the areas where China is less competitive.
Firms exposed to Chinese competition expanded employment by 2% more per year than those not exposed. [Source: Ildiko Magyari, 2017.]
“Sure, they took our jobs, but they gave us better jobs in return.”