Trade / China
A long time ago (1994) in a not so far away place (southeastern U.S.), Jimmy Smith found himself out of work after the steel mill closed. Now it was a depressing day for Jimmy as his father had worked in the steel industry and so had his father’s father. Jimmy’s wife Sally was also scared about being laid off from her job at the textile mill. “What would we do?” she thought, “How would we feed the children?” So who are Jimmy and Sally? Two of the roughly ONE MILLION people laid off since 1994 due to what those fancy politicians in Washington DC called “NAFTA” and they could have easily been two of the roughly 35,000 manufacturing jobs lost in Louisiana since 1994. And the layoffs (and threats of layoffs) in Louisiana aren’t slowing down –
- Noranda alumina plant (Grammercy, LA – St. Charles Parish) – 444 jobs at stake
- Nearly 200 workers at NASA’s Michoud Assembly Facility in eastern New Orleans
- Whole Foods New Orleans-area stores part of 1,500 layoffs nationwide
- Martin Mills distribution center, Vidalia, LA – 167 layoffs
- Hexion, Inc. to lay off 97 employees in Norco, LA
- Offshore Specialty Fabricators expected to furlough 67 employees
- Freeport-McMoRan Oil & Gas to lay off 32 in New Orleans, LA and 25% of its overall oil and gas workforce
And if NAFTA weren’t terrible on its own, China is adding insult to injury in our economy. In 2015, more than 3300 U.S. aluminum jobs were taken from the U.S. But job losses in aluminum is just like one small shrimp in the gulf (of jobs that are being lost). In a 2015 study by MIT economists examining the impact of China’s entry to the World Trade Organization in late 2001, their conclusion was that we have lost between 1 – 2+ million American factory jobs since 2000 that are traceable to low-cost imports from China. Let’s break that down a bit – 1.5 million manufacturing jobs @ $40k annually comes to $60 BILLION taken out of our pockets, and that works out to $1.2 billion potentially taken out of Louisiana’s economy. What are they doing with all that money? Well let’s see, they subsidize their exports and manipulate their currency causing job loss in the U.S. and come over here and buy the houses you can no longer afford because you lost your job. And then they take the rest of the billions and build up their military.
They take our jobs and money and buy our assets and threaten us with their military…..really Congress? Is that what you were elected to do?
To Read More about the Chinese Building Their Military – Click Here