Our biggest trade deficit comes to us courtesy of Walmart, one of the biggest importers of Chinese goods.
Just the imports that pass through Walmart account for 15.3% of our trade deficit. Imagine if just 1/2 of those jobs were brought back home. Much has been promised by Walmart by way of investing in American jobs but little has actually been delivered.
Not only have many manufacturing jobs been lost but in other cases, wages have been suppressed by the competition.
In 2001 exports to China supported 161,400 jobs but imports from China cost us 1,127,700 or a net loss of about 1 million jobs. In 2013 that net loss had climbed to over 4 million.
Now China is dependent on the United States to prop up their economy, which we are doing at the expense of American workers and the American economy. And China is using the profits made by exporting to us to purchase Treasury Bills
and other government securities.
This is not a scenario that can (or should) be allowed to continue.
Wayne A. White
Englewood, FL
