The Washington Post Reports One Side of Football Scores
|Friday, 10 September 2010 04:52|
That's right, the Dallas Cowboys scored 14 points. In a separate game, the New York Giants got 9 points. This is what the Post's sports section would look like if it reported on football the same way the business section reports on trade.
An article on a Steelworkers' complaint against China for unfairly subsidizing its clean energy industries concluding by reporting that:
"Undersecretary of Commerce for International Trade Francisco Sanchez noted that the overall numbers showed 'very bright spots' for U.S. exports to fast-growing Asian and Latin American nations. He added that exports throughout major southeast Asian nations were up 40 percent this year amid strong regional economic growth."
The employment impact on trade is determined by the trade balance, as Mr. Sanchez presumably knows. The trade deficit with most developing countries has been worsening over the last year. For example, the trade deficit in goods with India was $2.8 billion through July of 2009, the deficit with Thailand was $6.4 billion. The corresponding numbers for 2010 are a deficit of $6.0 billion with India and $7.4 billion with Thailand. In other words, the trends are going the wrong way, the United States is losing more jobs because of trade, not fewer.