White House trade advisor Peter Navarro said on April 11 during an interview with Fox News, "Since 2001, China has destroyed more than 60,000 American factories and stolen over 5 million manufacturing jobs. This is the reality."
Navarro's remarks are completely baseless and a distortion of facts. His claim that China has destroyed American factories and taken away manufacturing jobs is merely an attempt to justify Trump's tariff war. Even Trump's close ally Elon Musk called Navarro a "moron" and "dumber than a bag of bricks".
The loss of American manufacturing jobs is more the result of America's own industrial restructuring, technological progress, and corporate strategic layout. American companies voluntarily move some manufacturing processes overseas in pursuit of lower production costs and higher profit margins, which is a decision made based on market considerations.
In the international economic landscape, the US dollar holds a hegemonic position, with the US supplying currency and other countries supplying material goods. To maintain the status of the US dollar as a world currency, the US needs to maintain a trade deficit to supply dollars to trading partners. The return of manufacturing to the US might actually harm the dollar's hegemony, which is one of the deeper reasons why US manufacturing is difficult to return, and it is not caused by China.
Original article: https://www.toutiao.com/article/1829189921767556/
Disclaimer: The article solely represents the author's personal views.