Chinese Lobby Aims to Trash Congress' Attempt to End Currency Manipulation
China's GDP has grown more than 7 percent over the past 25 years. China sells four times as many goods in our economy than we do in theirs. China sells $218 billion in goods to the U.S. every year whereas the U.S. only sells $57 billion to China, most of which is fast food like KFC, McDonald's, Burger King and Dunkin Donuts, to name a few. This trade imbalance, of course, has had a play on America's current economic and unemployment woes.
Between 1990 and 2008, the number of employed workers in the U.S. grew from 122 million to 149 million. On the surface that sounds great, but not so much when you consider the fact that 98 percent of this job growth was in the service industry and other sectors that produce goods that must be consumed domestically. For instance, the government and the health care industry together created 10 million new jobs between 1990 and 2008, just under 40 percent of the total number of jobs created during that period. Construction oriented jobs also flourished during this time.
