…as Mr Summers pointed out, even China seems to have been shedding manufacturing jobs over the last couple of decades. Perhaps the data deceive here, but the Chinese manufacturing boom seems to be more about increasing output per worker than employing more workers. If the Chinese can’t generate jobs through manufacturing I am not sure we should be expecting too much from that strategy.
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thecallus reblogged this from abbyjean and added:
I’m glad that this fact is no longer immediately derided as a winger opinion like it was in 2008.
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abbyjean posted this
