"If you go by the official data, U.S. workers have benefited from international trade in the past few years. The reported deficit in the trade of goods fell 25 percent from 2007 to 2011, adjusted for price changes. A shrinking trade gap is good for workers because it means more Americans are being kept busy producing things for domestic and foreign consumption.
But what if those trade numbers are wrong? After all, the U.S. lost 2 million manufacturing jobs from 2007 to 2011. A new research report from the Democratic-leaning Progressive Policy Institute says the trade deficit is worse than officially stated. It says the government is understating how much of what Americans consume is actually produced abroad, particularly in such low-cost nations as China."
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