This is a show you won't want to miss. Lots of juicy details.
Brian Katulis is a Senior Fellow at the Center for American Progress where he examines U.S. national security policy in the Middle East and democratization, with a focus on Iraq. Prior to joining the Center, he lived and worked in the Middle East for the National Democratic Institute and Freedom House, including projects in Egypt, Iraq, and the Palestinian territories.
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The U.S trade deficit with China has risen to a $46.4 billion deficit for the first quarter of this year, which is twice what the deficit was the first quarter of 2006. In 2006 the U.S trade deficit was an astounding $233 billion.
At least eight million U.S jobs reportedly have went overseas over the past several years, and the manufacturing industry has been hit the hardest. Off shoring of jobs has also hit the technology industry as well as business and professional services.
The U.S auto industry for instance is in serious trouble. Both General Motors and Ford have reported major losses and are teetering on the brink of oblivion, while Daimler-Chrysler hopes to sell The Chrysler Group due to falling profits.
The U.S manufacturing industry will take another major blow as more than two-hundred thousand U.S auto jobs are to be exported to China, India and Mexico within three years which will cause auto assembly and auto parts plants in the U.S to shut down.
Ford has been busy building new plants in China and Thailand while expanding production in India. General Motors has also been investing in manufacturing facilities in several countries while closing many within the U.S.
There are a reported 44 million workers in the U.S who no longer have regular full time permanent jobs. There are at least 60 million workers or 40 percent of the U.S workforce who are unemployed, underemployed, part time or temporary workers.
Rising health care costs and outrageous executive compensation packages as well as the rising level of foreign imports have led the American Industrial base to be in dangerous peril. As the Bush administration seeks further freedoms in negotiating trade agreements, U.S workers of every genre face a future tied to the interests of Corporate America.
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