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| MNN-Wal-Mart's Dealings With China Driving Job Loss |
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GoIAM.org - Just how devastating has
Wal-Mart's exploitation of cheap labor in
China been?
Since China's entry into the World Trade
Organization in 2001 -- the corporate giant's
trade deficit with China has cost the U.S.
nearly 200,000 jobs.
A new report from the Economic Policy
Institute outlines the extent U.S. workers
have been hurt by Wal-Mart's dealings with
China.
Hit hardest by Wal-Mart's imports from China
has been the manufacturing sector -- with
133,000 decent, well-paying jobs lost.
Wal-Mart was responsible for $27 billion in
U.S. imports from China and 11 percent of the
total growth of the U.S. trade deficit with
China over the past 5 years.
While the U.S.'s overall trade deficit of
$235 billion with China has cost nearly two
million jobs -- the EPI report points
specifically at Wal-Mart's role in the job
loss.
The report states: Wal-Mart has aided China's
abuse of labor rights and its violations of
internationally recognized norms of fair
trade behavior. GoIAM.org
Tags : GoIAM.org IAM IAMAW Machinists Labor Union WalMart China Job Loss Jobs Fair Trade Rights |
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