CHINA SHOCK
DEMOLISHED U.S. MANUFACTURING
“Trade with China, in particular, has inflicted serious damage on
American communities across the country, damage from which they
have yet to recover. As the economists David Autor, David Dorn, and
Gordon Hanson have documented, what they call the ‘China
shock’ - beginning in 1991 and lasting into this century - demolished
manufacturing in much of the U.S. Workers in the affected communities
had a hard time finding and keeping new jobs, and unemployment stayed high
and wages low for at least a decade afterward.”
American communities across the country, damage from which they
have yet to recover. As the economists David Autor, David Dorn, and
Gordon Hanson have documented, what they call the ‘China
shock’ - beginning in 1991 and lasting into this century - demolished
manufacturing in much of the U.S. Workers in the affected communities
had a hard time finding and keeping new jobs, and unemployment stayed high
and wages low for at least a decade afterward.”
James Surowiecki, “Economic Populism at the Primaries,” New
Yorker, February 28, 2016, page 21.
