03-11-2016, 03:53 AM
Not everybody fully agrees though. This is just one study, but interesting nevertheless:
Quote:Economists are now discovering, however, that the broader benefits of free trade with some countries—China, in particular—are taking far longer to develop than they should. And they may never arrive. A new study by economists David Autor of MIT, Gordon Hanson of the University of California, San Diego, and David Dorn of the University of Zurich finds that China’s rise as a manufacturing powerhouse during the last 25 years has caused a “trade shock” in many parts of the U.S. economy that still hasn’t subsided. “Employment has fallen in U.S. industries more exposed to import competition, as expected,” they write. “But offsetting employment gains in other industries have yet to materialize.” Instead of finding other rewarding opportunities in “non-trade exposed” industries, many displaced workers suffer repeated bouts of unemployment and depressed lifetime earnings. That’s when they start paying attention to Donald Trump or Bernie Sanders.Corporate America is doing itself in—while Trump and Sanders capitalize - Yahoo Finance