By Andrew Butter If you want to know the real “culprits”, have a look at this chart: The blue line is US Employment in Manufacturing (from the St Louis Fed), the purple line is the cumulative amount of money that Americans (mainly US Corporations) invested in projects outside of USA, instead of inside USA; (from the BEA time series on International Transactions Line 51). Do I need to draw a picture? That line is probably an under-estimate of the value that was sucked out of USA and sent elsewhere. Because when you set up a factory in a Special Economic Zone in…
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