American Labor Essay Example | Topics and Well Written Essays - 3750 words

American Labor - Essay ExampleMany western and European production oriented companies started reducing their operations in their native countries thus resulting in job cuts. As this trend continues unabated, concerns of increasing unemployment figures are being expressed by analysts. Countries like US, UK and Germany are considered to be the ones from where multinational companies have moved their operations eastward.It is widely believed that opening of economic policies results in mutual benefits for the trading nations, but when it is felt that jobs are being taken past from one country and conked over to another country, then it gives rise to a peculiar social sector problem. United States of America recently see a political campaign, during which come insourcing and increasing unemployment figures were big issues. Therefore, it becomes all the more necessary for the US government to get to the depth of the issue and try to figure out an acceptable solution. If we take a loo k at look at the figures of US trade with China during the last 10 years (during the period 1999-2008), we take on that the trade deficit has indeed widened amongst in favor of China (US Census Bureau, 2009).It is therefore quite clear that while on the one hand the Chinese dominance is increasing by leaps and bounds in the US market, the US exports to China have not been able to match the import figures. In fact, today China has literally become a talking point at all international forum. Besides some of the issues involving human rights, Tibet, Taiwan etc. the rapid progress made by the country on the trade and industry front has provided a leading edge to China. Supplies of cheaper goods to countries around the world, hazardous paints in toys etc. are also being discussed as the shortcomings arising out of China in the recent past. While the US seems to be facing a takings of problems in the form of outsourcing and job losses, China is steadily making a progress in its econom ic standards. This gives rise to questions like, is the growth of China at the embody of other nations progress Is the Chinese cheap labor stealing jobs from their US counterpartsLiberalization and the AftereffectDuring the early years of liberalization Chinas fastest growing sectors were textiles, apparel, footwear, and toys. During the period between 1980 and 1998, this sector saw a growth of more than ten-fold from $4.3 billion to $53.5 billion (Lardy, 2003). But in recent years China seems to have become technical school savvy as well. Now, the country is attracting the industries like consumer electronics, automobiles, computers and other information technology products from all across the world. Since the