Evaluating Global Trade: A Development-Friendly Perspective � An Analysis of the World Trade and Development Report 2007
This document evaluates the impact of global trade policies on development, based on the World Trade and Development Report 2007.
David Miller
Contributor
4.8
43
15 days ago
Preview (2 of 5)
Sign in to access the full document!
Evaluating Global Trade: A Development-Friendly Perspective – An Analysis
of the World Trade and Development Report 2007
Week 7 Discussion 1
"Globalization of Trade and Finance" Please respond to the following:
From the first e-Activity, give your opinion on three (3) outcomes that you believe the US
recession has had on developing countries and their ability to trade. Provide specific
examples of the recession’s effects to support your rationale.
Triggered by the burst of the US housing bubble, in 2007, the global financial crisis led to a
domino outcome across the globe as the problems in internationally-linked financial markets
caused a collapse in credit and demand leading to recession. In a globalized world, in which
many economies are ever more linked as a result of the removal of barriers to trade, investment
and finance, problems in one country will certainly affect others. Since China entered the World
Trade Organization in 2001, the growth of trade between China and the United States has had a
dramatic effect on U.S. workers and the domestic economy, though in neither case has this effect
been valuable. The United States is piling up foreign debt and losing export capacity, and the
growing trade deficit with China has been a prime contributor to the crisis in U.S. manufacturing
employment. Between 2001 and 2011, the trade deficit with China eliminated or displaced more
than 2.7 million U.S. jobs, over 2.1 million of which (76.9 percent) were in manufacturing.
These lost manufacturing jobs account for more than half of all U.S. manufacturing jobs lost or
displaced between 2001 and 2011 (Scott, 2012).
Among specific industries, the trade deficit in the computer and electronic products industry
grew the most, and 1,064,800 jobs were displaced, 38.8 percent of the 2001–2011 total. As a
result, many of the hardest-hit congressional districts were in California, Texas, Oregon,
Massachusetts, Colorado, and Minnesota, where jobs in that industry are concentrated. Some
districts in North Carolina, Georgia, and Alabama were also especially hard-hit by job
displacement in a variety of manufacturing industries, including computers and electronic
products, textiles and apparel, and furniture. These conclusions about the jobs impact of trade
with China arise from the following specific findings of this study:
Most of the jobs lost or displaced by trade with China between 2001 and 2011 were in
manufacturing industries (more than 2.1 million jobs, or 76.9 percent).
Within manufacturing, rapidly growing imports of computer and electronic products
(including computers, parts, semiconductors, and audio-video equipment) accounted for
54.9 percent of the $217.5 billion increase in the U.S. trade deficit with China between
2001 and 2011. The growth of this deficit contributed to the elimination of 1,064,800
U.S. jobs in computer and electronic products in this period. Indeed, in 2011, the total
of the World Trade and Development Report 2007
Week 7 Discussion 1
"Globalization of Trade and Finance" Please respond to the following:
From the first e-Activity, give your opinion on three (3) outcomes that you believe the US
recession has had on developing countries and their ability to trade. Provide specific
examples of the recession’s effects to support your rationale.
Triggered by the burst of the US housing bubble, in 2007, the global financial crisis led to a
domino outcome across the globe as the problems in internationally-linked financial markets
caused a collapse in credit and demand leading to recession. In a globalized world, in which
many economies are ever more linked as a result of the removal of barriers to trade, investment
and finance, problems in one country will certainly affect others. Since China entered the World
Trade Organization in 2001, the growth of trade between China and the United States has had a
dramatic effect on U.S. workers and the domestic economy, though in neither case has this effect
been valuable. The United States is piling up foreign debt and losing export capacity, and the
growing trade deficit with China has been a prime contributor to the crisis in U.S. manufacturing
employment. Between 2001 and 2011, the trade deficit with China eliminated or displaced more
than 2.7 million U.S. jobs, over 2.1 million of which (76.9 percent) were in manufacturing.
These lost manufacturing jobs account for more than half of all U.S. manufacturing jobs lost or
displaced between 2001 and 2011 (Scott, 2012).
Among specific industries, the trade deficit in the computer and electronic products industry
grew the most, and 1,064,800 jobs were displaced, 38.8 percent of the 2001–2011 total. As a
result, many of the hardest-hit congressional districts were in California, Texas, Oregon,
Massachusetts, Colorado, and Minnesota, where jobs in that industry are concentrated. Some
districts in North Carolina, Georgia, and Alabama were also especially hard-hit by job
displacement in a variety of manufacturing industries, including computers and electronic
products, textiles and apparel, and furniture. These conclusions about the jobs impact of trade
with China arise from the following specific findings of this study:
Most of the jobs lost or displaced by trade with China between 2001 and 2011 were in
manufacturing industries (more than 2.1 million jobs, or 76.9 percent).
Within manufacturing, rapidly growing imports of computer and electronic products
(including computers, parts, semiconductors, and audio-video equipment) accounted for
54.9 percent of the $217.5 billion increase in the U.S. trade deficit with China between
2001 and 2011. The growth of this deficit contributed to the elimination of 1,064,800
U.S. jobs in computer and electronic products in this period. Indeed, in 2011, the total
Preview Mode
Sign in to access the full document!
100%
Study Now!
XY-Copilot AI
Unlimited Access
Secure Payment
Instant Access
24/7 Support
Document Chat
Document Details
Subject
Economics