The chart below shows the USA’s trade deficit with China since 1994. That’s when China devalued its currency, and carved it in stone with a peg to the dollar enforced by perpetual protectionist intervention in the free market for currencies. There were deficits prior to 1994, but they were much smaller, of course. Click chart to enlarge:
The grand total through 2009 comes to $2.024 trillion, and represents a staggering loss of factories and jobs. Even during the Great Recession, we ran the deficit at a quarter trillion dollars. Needless to say, the politicians that allowed that to happen are guilty of economic treason.
Note: I got these numbers from the Census Bureau’s website.
Note: I made the bars on the chart bright red because each represents a bloody stab into the heart of the American Middle Class. Prior to 1994, middle class people operated small businesses and sold products to Walmart. Now they have been put out of business, and work at Walmart stocking the shelves with products from China.