China a trade cheater, says Republican Romney
25 Aug 2012
US Republican presidential candidate Mitt Romney on Thursday called China a ''cheater'' for its unfair trade practices, and called for a crackdown on these.
"We have got to have more trade. We need to open up trade with Latin America and other parts of the world and crack down on cheaters like China when they cheat and steal jobs with unfair trading practices," Romney told his supporters at an election campaign event in New Mexico.
A report released by a US think tank said that between 2001 and 2011, the trade deficit with China eliminated or displaced more than 2.7 million US jobs, over 2.1 million of which (76.9 per cent) were in manufacturing, reports PTI. These lost manufacturing jobs account for more than half of all US manufacturing jobs lost or displaced between 2001 and 2011.
According to the Economy Policy Institute, more than 2.7 million jobs lost or displaced in all sectors include 662,100 jobs from 2008 to 201,1even though imports from China and the rest of the world plunged in 2009. Imports from China have since recovered and surpassed their peak of 2008.