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800000 factory jobs were lost to Chinese imports, but the US is better off, researchers say

800000 factory jobs were lost to Chinese imports, but the US is better off, researchers say
- While sectors of the economy that are highly exposed to import competition from China lost more manufacturing jobs than those with less exposure, the overall impact to the economy was more mixed. About half the lost jobs — 800,000 — can be directly attributed to the “China shock,” the authors wrote.
But those lost jobs may be somewhat offset by other factors, such as access to cheaper goods. Overall U.S. “welfare” increased 0.6%, the authors wrote. That translates to an average gain of $260 in extra spending for every American consumer for each year for the rest of their lives thanks to more, cheaper, Chinese imports.