In
today's San Jose Mercury News is a story that the rest of the media should be covering instead of going on and on about Lynne Cheney.
The U.S.-China Economic and Security Review Commission issued a report finding that 406,000 jobs will be relocated to China, Mexico, and other countries this year. That's double the number of jobs that left the country in 2001.
The Commission, which was created by Congress, also found that:
- Companies that are engaged in production shifts ``tend to be large, publicly held, highly profitable, and well established.''
- The principal motive for production shifts to China is cost reduction rather than producing for the Chinese market.
- The number of jobs lost because of production shifts far exceeds that reported by the Bureau of Labor Statistics in its report on mass layoffs due to overseas relocation.