China Trade, Outsourcing and Jobs: Growing U.S. trade deficit with China cost 3.2 million jobs between 2001 and 2013, with job losses in every state
Since China entered the World Trade Organization in 2001, the massive growth of trade between China and the United States has had a dramatic and negative effect on U.S. workers and the domestic economy.
What’s good for individual businesses in the financial short run is terrible for them, the economy, and the society in the holistic long run. Just because it’s more profitable doesn’t mean it’s actually going to be good for people, the environment, it the economy outside of business profits. It’s not rocket science.