Trade based on cheap manufacturing, cheap labor. But manufacturing is becoming more and more mechanized -- in China like everywhere else. In fact, between 1995 and 2002, China lost 15 million manufacturing jobs, compared with a loss of 2 million manufacturing jobs in the U.S.
This figure surprises many people. China has lost 7 times the manufacturing jobs the United Stats has from 1995 to 2002.
For more see, our post on: Manufacturing and the Economy
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