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'David Headley was the main accused': Congress' Udit Raj on 26/11 plotter Tahawwur Rana's extradition - Times of India
- 'David Headley was the main accused': Congress' Udit Raj on 26/11 plotter Tahawwur Rana's extradition Times of India
- Tahawwur Rana Probe Reveals Elusive "Dubai Man" Who Knew Of 26/11 Attacks NDTV
- Tahawwur Rana left Pakistan Army, but continued wearing uniform at ISI, Lashkar meetings: Report Hindustan Times
- Will trial be over in a year, asked Rana. Lawyers’ reply changed his demeanour Times of India
- Glad that day has come: U.S. Secretary of State on Justice for 26/11 victims with Rana’s extradition The Hindu
Trump learnt nothing from 'China Shock'
When Congress voted to normalize trade relations with China at the beginning of this century, U.S. manufacturers braced for a stream of cheap goods to begin flowing into U.S. ports. Instead, they got a flood. Imports from China nearly tripled from 1999 to 2005, and American factories, with their higher wages and stricter safety standards, couldn't compete. The "China shock," as it has come to be known, wiped out millions of jobs in the years that followed, leaving lasting scars on communities from Michigan to Mississippi. To President Donald Trump and his supporters, those job losses are an object lesson in the damage caused by decades of U.S. trade policy -- damage he promises that his tariffs will now help to reverse. On Wednesday, he further raised duties on imports from China, well beyond 100%, even as he suspended steep tariffs he had imposed on other trading partners. Few economists endorse the idea that the United States should try to bring back manufacturing jobs en masse. Even fewer believe that tariffs would be an effective tool for doing so. But economists who have studied the issue also argue that Trump misunderstands the nature of the China shock. The real lesson of the episode wasn't about trade at all, they say -- it was about the toll that rapid economic changes can take on workers and communities -- and by failing to understand that, Trump risks repeating the mistakes he claims he has vowed to correct. "For the last 20 years, we've been hearing about the China shock and how brutal it was and how people can't adjust," said Scott Lincicome, a trade economist at the Cato Institute, a libertarian research organization. "And finally, after most places have moved on, now we're shocking them again." A Legacy Reconsidered The first thing to understand about the China shock is that nearly every part of the narrative at the start of this article is an oversimplification. Factory jobs were declining as a share of employment for decades before China joined the World Trade Organization in 2001. Those losses did accelerate starting around 2000, particularly in labor-intensive industries such as clothing and furniture manufacturing, but not all of that decline can be attributed to competition from China, or U.S. trade policy more generally. Technology also played a major role by allowing factories to make more goods with fewer workers. And although economists disagree about exactly how much of the decline to attribute to various factors, hardly anyone thinks the United States would still employ a half-million apparel makers, as it did in 2000, if China had been kept out of the WTO. Even the 2016 paper that coined the phrase "China shock" found that Chinese imports accounted for only a fraction of the 5 million manufacturing jobs lost in the 12-year period the researchers studied. What set the China shock apart wasn't that it was uniquely costly -- the idea that trade has winners and losers was recognized by economist David Ricardo in the early 19th century. Rather, it was the speed and concentration of those losses. Communities that relied heavily on labor-intensive manufacturing industries saw those jobs evaporate in just a few years. In 2000, the furniture industry in Hickory, North Carolina, employed more than 32,000 people, one-fifth of the area's private-sector workers. Within a decade, that number had been cut by nearly 60% -- a devastating blow that was repeated in communities in many regions. Standard economic theory held that the people and places hit by those losses should have adapted relatively quickly. Investors should have snapped up the abandoned factories and mills on the cheap and found more productive uses for them. Laid-off workers should have learned new skills and switched to faster-growing industries -- and if no such jobs were available nearby, they should have found work elsewhere. None of that happened. New, higher-paying industries did spring up, but not in the places hit hardest by the manufacturing job losses. Laid-off workers wouldn't or couldn't move in search of opportunities, and they struggled to compete for the few good jobs that remained in their communities, many of which required a college degree. Instead, they found work in service jobs that paid a fraction of their former factory wages, or they left the labor force. Employment rates among men plummeted; rates of addiction and premature death soared. This, then, is the central insight of the China shock literature: Change is hard. Rapid change is harder. When economic shifts take place over decades, it gives workers and communities a chance to adjust. Local leaders can recruit businesses in new industries. Parents can push their children to pursue different lines of work. Those gradual adaptations don't work when entire industries shut down in short time. "Labor markets adjust over the course of generations," said David Autor, a Massachusetts Institute of Technology economist who was co-author of the original China shock paper and has continued to study it. "It doesn't happen within careers." An Even Faster Shock Still, the China shock played out over years. Trump is trying to reverse it in a matter of months. The tariffs he announced this month would have hit nearly every product imported from nearly every U.S. trading partner. And although he delayed many of those duties after investors rebelled, those he has kept in place still amount to the biggest change in U.S. trade policy in generations. Such a vast disruption could have devastating consequences, including for the industries that Trump says he wants to help. Companies including Stellantis, an auto manufacturer, and Whirlpool, an appliance maker, have begun announcing thousands of layoffs. (Whirlpool attributed its move to weak demand, not tariffs, but surveys show that uncertainty over tariffs and their impact has chilled consumer spending.) More cuts are likely to follow if Trump sticks to his policies, said Mark Muro, a Brookings Institution economist who has studied how the decline of manufacturing has affected local economies. "It could have China-shock-like impact, maybe even more grave," he said. The shock would look different this time. The losers in the China import boom were highly concentrated; the winners -- all American consumers, essentially -- were diffuse. This time, the opposite would be true. A few industries, such as steelmaking, would benefit, while the economy as a whole would suffer. Retailers, large and small, would be squeezed by higher import prices on the one side and inflation-weary consumers on the other. Farmers and other exporters are likely to be a target of retaliatory tariffs from U.S. trading partners. Automakers, tech companies and other manufacturers with complex global supply chains will have a particularly hard time adjusting to a rapidly shifting and uncertain trading system. Nearly all U.S. manufacturers of any scale rely on imports to some degree, whether for parts or raw materials or for the equipment they use in their factories. In theory, with the right mix of tariffs, subsidies and other incentives, the government might be able to push companies to shift more of their supply chains back to the United States. But that would take time. Companies would have to build new factories and seek out new suppliers, which in turn would need to expand to meet new demand. For parts and equipment that aren't made domestically at all anymore, companies would have to rebuild supply chains from scratch. And the U.S. labor force already has a shortage of workers in many skilled manufacturing occupations. Training a new generation of welders, CNC mechanics and CAD technicians would take years. "Things like factories, supply chains, industrial clusters, workforce specializations just take time to develop," Muro said. "It's not very plausible to think that you could turn off one economic order and turn on another." Even supporters of Trump's trade policies say it would be better to phase in tariffs to give companies time to adjust. Oren Cass, a conservative policy expert who has been one of the most prominent advocates of tariffs, wrote in The New York Times this month that the all-at-once approach was "unnecessary and unwise." "Throwing supply chains into maximal disarray and imposing the highest burdens faster than companies could possibly move to avoid them leads to excessive costs with few attendant benefits," Cass wrote. Signs of Recovery Trump's attempt to wind back the clock on trade is coming just as the scars of the China shock seem to be fading. Cities whose industrial bases were hollowed out by competition from China, or from earlier waves of industrial decline, have begun to attract new industries and workers. Job growth in recent years has actually been stronger in these distressed counties than in the high-tech hubs that were the winners in the earlier phases of globalization, according to a recent study by economists at the Upjohn Institute in Kalamazoo, Michigan. Places have made those gains not as a result of broad national policies such as tariffs but through long-term strategies that were tailored to communities' individual strengths, said Timothy J. Bartik, one of the study's authors. Grand Rapids, Michigan, has developed a specialty in medical device manufacturing. The Lehigh Valley in Pennsylvania took advantage of its location to become a logistics hub. "To really revitalize communities takes a prolonged investment in a strategy that takes account of local characteristics," Bartik said. "One size does not fit all. You need a different strategy for each local community." Hickory, the North Carolina community devastated by the loss of the furniture industry, found itself with a surplus of cheap hydroelectric power after the factories and textile mills left town. That allowed it to attract an Apple data center, the seed of what has become a miniature high-tech hub. The community also invested in amenities to make itself attractive to younger workers: Today, old mill buildings have been redeveloped as restaurants, breweries and loft-style offices. "Suddenly you've got cool companies, cool opportunities to work and a changing vibe within the city itself," said Scott Millar, president of the Catawba County Economic Development Corp. The local unemployment rate, which was higher than the national rate for more than a decade after the China shock, is now consistently at or below that mark. Still, Millar says the experience of the early 2000s showed how vulnerable a community can be to rapid economic changes. Many local businesses might be open to Trump's argument that the economy needs to endure short-term pain to achieve long-run revitalization. But, Millar said, "I can also see some people asking: Does the change have to happen this quickly?" Communities such as Hickory have spent more than two decades recovering from the last big trade shock. Could Trump's disruptions force them to go through it again? "I think there could be parallels," Millar said. "It took a long time to pull out of that hole."
Categories: Business News
Kim Sae Ron KISSED someone else while dating Kim Soo Hyun? Her family reacts to alleged KISSING clip released by Youtuber Lee Jin Ho - Bollywood Life
- Kim Sae Ron KISSED someone else while dating Kim Soo Hyun? Her family reacts to alleged KISSING clip released by Youtuber Lee Jin Ho Bollywood Life
- K-Pop Idol WOODZ's Agency Breaks Silence On Dating Rumours With Late Actress Kim Sae-Ron: "Difficult For Us To Confirm" NDTV
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Webb telescope documents alien planet’s death plunge into a star - Malay Mail
- Webb telescope documents alien planet’s death plunge into a star Malay Mail
- Webb Telescope Documents Alien Planet's Death Plunge Into Star NDTV
- NASA Webb’s Autopsy of Planet Swallowed by Star Yields Surprise NASA Science (.gov)
- Scientists thought a star swallowed a planet — then a shocking truth was revealed Times of India
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Beijing moves to soothe India over $100 billion trade deficit - Hindustan Times
- Beijing moves to soothe India over $100 billion trade deficit Hindustan Times
- What just happened in US bond markets that spooked Trump into pausing tariffs Times of India
- Slowdown in US and China to have bigger impact on India than bilateral tariffs: Swaminathan Aiyar The Economic Times
- High tariffs on China could help some Indian products become more competitive in US: Report Deccan Herald
- Morning Brief: US-China Trade War Opens Doors For Indian Exporters; Adani To Launch One Of World’s Biggest Copper Smelters; Trump Awaits Xi’s Call, But It’s Not Coming Swarajyamag
MS Dhoni To Announce Retirement? Mohammad Kaif Asks Tough Questions, Tears Into CSK Management - NDTV Sports
- MS Dhoni To Announce Retirement? Mohammad Kaif Asks Tough Questions, Tears Into CSK Management NDTV Sports
- "Brain Stopped Working?" MS Dhoni, CSK's 'Experienced' Players Face Savage Query After Biggest Loss .. NDTV Sports
- Watch: Virender Sehwag doesn't hold back on MS Dhoni's short-lived stay during CSK vs KKR Times of India
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Garena Free Fire MAX redeem codes for April 12: Win free prizes and rewards like diamonds, skins, and mor - Times of India
- Garena Free Fire MAX redeem codes for April 12: Win free prizes and rewards like diamonds, skins, and mor Times of India
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- Free Fire Max Redeem Codes for April 12: Claim free rare outfits, diamonds, emotes today India TV News
- Garena Free Fire Max: Redeem codes for April 11 to win rewards and diamonds Business Standard
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Patna News: बिहार सिविल कोर्ट क्लर्क भर्ती परिणाम घोषित, देखें कितना रहा Cutoff
जागरण संवाददाता, पटना। बिहार सिविल कोर्ट क्लर्क भर्ती की प्रारंभिक परीक्षा का परिणाम घोषित कर दिया गया है। इस परीक्षा में कुल 42,397 उम्मीदवारों को सफल घोषित किया गया है। इन सभी के कटऑफ भी जारी किया गया है।
परिणाम वेबसाइट पर
22 दिसंबर को आयोजित इस परीक्षा का परिणाम आधिकारिक वेबसाइट https//patna.dcourts.gov.in/notice-category/recruitments/ पर अपलोड कर दिया गया है। उम्मीदवार अपना परिणाम वेबसाइट पर देख सकते हैं।
7692 पदों पर भर्ती
इस भर्ती प्रक्रिया के माध्यम से कुल 7692 पदों को भरा जाना है। इनमें क्लर्क के 3325 पद, स्टेनोग्राफर के 1562 पद, कोर्ट रीडर के 1132 पद और प्यून के 1673 पद शामिल हैं।
वर्गवार कटऑफ और चयनित अभ्यर्थी
विभिन्न वर्गों के लिए रिक्तियों की संख्या, कटऑफ अंक और चयनित अभ्यर्थियों की संख्या इस प्रकार हैं
- सामान्य वर्ग 1330 पद, कटऑफ 70 अंक, चयनित 17,043
- अभ्यर्थी ईडब्ल्यूएस 332 पद, कटऑफ 65, चयनित 4,176अभ्यर्थी
- पिछड़ा वर्ग (बीसी) 399 पद, कटऑफ 67 अंक, चयनित 4,968 अभ्यर्थी
- ईबीसी 599 पद, कटऑफ 63 अंक, चयनित 8,269 अभ्यर्थी
- एससी 532 पद, कटऑफ 57 अंक, चयनित 6,495 अभ्यर्थी
- एसटी 33 पद, कटऑफ 391 अंक, चयनित 391 अभ्यर्थी
- डब्ल्यूबीसी 100 पद, कटऑफ50 अंक, चयनित 1055 अभ्यर्थी
ये भी पढ़ें
Categories: Bihar News
'Stampede-like situation at T3': 50 flights delayed at Delhi airport, passengers allege 'held hostage' by - Times of India
- 'Stampede-like situation at T3': 50 flights delayed at Delhi airport, passengers allege 'held hostage' by Times of India
- Dust Storm INSIGHTS IAS
- ‘Felt like a 20-minute earthquake’: Delhi-NCR residents left shaken after sudden dust storm Hindustan Times
- Chaos After Delhi Dust Storm: 205 Flights Delayed, Departures An Hour Late NDTV
- Delhi hit by dust storm, flights disrupted; heatwave to return next week Business Standard
President Must Decide On Bills Reserved By Governor Within 3 Months; States Can Approach Courts Against... - Live Law
- President Must Decide On Bills Reserved By Governor Within 3 Months; States Can Approach Courts Against... Live Law
- Supreme Court Sets 3-Month Deadline For President To Decide On Bills NDTV
- Supreme Court puts President on a deadline, says prudent to consult apex court before taking a call on State Bills The Hindu
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- Governors case verdict: Supreme Court limits President's powers on withholding bills passed by State Bar and Bench
IPL 2025: KL Rahul’s Kantara-style celebration goes viral after Delhi’s thrilling win - Gulf News
- IPL 2025: KL Rahul’s Kantara-style celebration goes viral after Delhi’s thrilling win Gulf News
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