In 2001, the U.S. normalized long-term trade relations with China, and China joined the World Trade Organization — moves many expected to help both economies. Instead, over the next several years, inexpensive imports from China significantly undercut U.S. manufacturing, especially in industries such as textiles and furniture-making. By 2011, this “China shock” from trade was responsible for the loss of 1 million U.S. manufacturing jobs, and 2.4 million jobs overall. Many locales were especially hard hit, especially in the South Atlantic and Deep South regions. So, while consumers nationally benefitted…
