Remember the Magnequench: An Object Lesson in Globalization

Abstract

Click to increase image sizeClick to decrease image size Notes 1. Jake Tapper, “Hoosier Responsible? Clinton Decries China's Acquisition of Indiana Company – Ignoring Her Husband's Role in the Sale,” ABC News, April 20, 2008, http://abcnews.go.com/Politics/Vote2008/Story?id=4757257&page=1 2. Joe Carlson, “Clinton Let Magnequench Jobs Go To Chinese,” NWI Times, May 1, 2008, http://www.thetimesonline.com/articles/2008/05/01/news/top_news/doc7832950a3328e7fb8625743c0004a528.txt 3. Dan Haar, “No Such Thing as a Free Market,” Hartford Courant, October 2, 2008, http://www.courant.com/business/hc-haarcolumn-1002,0,2840976.column 4. “LPC Tables,” Bureau of Labor Statistics, Department of Labor, http://stats.bls.gov/lpc/#tables, and “National Economic Accounts,” Bureau of Economic Analysis, U.S. Department of Commerce, https://www.bea.gov/national/index.htm. 5. “LPC Tables,” Bureau of Labor Statistics, Department of Labor, http://stats.bls.gov/lpc/#tables, and “National Economic Accounts,” Bureau of Economic Analysis, U.S. Department of Commerce, https://www.bea.gov/national/index.htm. 6. Robert E. Scott, “The China Trade Toll: Widespread Wage Suppression, 2 Million Jobs Lost in the U.S.,” EPI Briefing Paper, no. 219 (Washington D.C.: Economic Policy Institute, July 30, 2008), http://www.epi.org/briefingpapers/219/bp219.pdf 7. Based on a household size of 2.61 people in the U.S. Census’ 2006 U.S. Community Survey. See http://factfinder.census.gov/servlet/ACSSAFFFacts? This excludes costs related to other inputs and differential regulatory burdens. The actual cost per household would almost certainly be higher than $174. 8. Erica L. Groshen, Bart Hobijn, and Margaret M. McConnell, “U.S. Jobs Gained and Lost Through Trade: A Net Measure,” Current Issue in Economics and Finance 11, no. 8 (New York: Federal Reserve Bank of New York, August 2005), http://www.ny.frb.org/research/current_issues/ci11-8.pdf 9. Erica L. Groshen, Bart Hobijn, and Margaret M. McConnell, “U.S. Jobs Gained and Lost Through Trade: A Net Measure,” Current Issue in Economics and Finance 11, no. 8 (New York: Federal Reserve Bank of New York, August 2005), http://www.ny.frb.org/research/current_issues/ci11-8.pdf, p. 6 10. Erica L. Groshen, Bart Hobijn, and Margaret M. McConnell, “U.S. Jobs Gained and Lost Through Trade: A Net Measure,” Current Issue in Economics and Finance 11, no. 8 (New York: Federal Reserve Bank of New York, August 2005), http://www.ny.frb.org/research/current_issues/ci11-8.pdf, p. 6 11. Susan Erler, “Production halted, doors closing at Magnequench Plant,” NWI Times, September 30, 2003, http://nwitimes.com/articles/2003/09/30/business/business/9f898fd15142a5dc86256db00077cc88.txt 12. Magnetic and Electrical Separation, 3 (Gordon and Breach Science Publisher S.A., 1991), pp. 48–49. 13. S. 522: Intellectual Property Rights Enforcement Act, http://www.govtrack.us/congress/bill.xpd?bill=s110-522 14. “LPC Tables,” http://stats.bls.gov/lpc/#tables 15. Chris Isidore, “Michigan's Economic Woes on the Ballot,” CNNMoney.com, January 15, 2008, http://money.cnn.com/2008/01/15/news/economy/michigan_economy_election/index.htm 16. Sasha Issenberg, “Mich. Holds Rhetoric Lesson for McCain,” Boston Globe, January 17, 2008, http://www.boston.com/news/nation/articles/2008/01/17/mich_holds_rhetoric_lesson_for_mccain/ 17. Tom Troy and Larry P. Vellequette, “Manufacturing Losses Exact Rising Toll in Northwest Ohio and Southeast Michigan,” Toledo Blade, July 27, 2008, http://toledoblade.com/apps/pbcs.dll/article?AID=/20080727/BUSINESS09/322675054/0/BUSINESS01 18. These numbers obviously do not reflect illegal migratory workers. 19. Ed Nosal and Michael Shenk, “Is Manufacturing Going the Way of Agriculture,” Federal Reserve Bank of Cleveland, http://www.clevelandfed.org/research/trends/2007/0307/02ecoact.cfm. 20. Joseph Schumpeter coined the term “creative destruction” in Capitalism, Socialism and Democracy (New York: Harper, 1942) to denote a ”process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one.” 21. Kevin L. Borg, Auto Mechanics: Technology and Expertise in Twentieth-Century America (Baltimore, MD: John Hopkins University Press, 2007). 22. John Tierney, “The Future is Now? Pretty Soon, at Least,” New York Times, June 3, 2008, http://www.nytimes.com/2008/06/03/science/03tier.html 23. Ray Kurzweil, “The Laws of Accelerating Returns,” KurzweilAI.net, March 7, 2001, http://www.kurzweilai.net/articles/art0134.html?printable=1 24. Regarding the Adecco 2008 Labor Day Survey, see “Uncertainty Causing Shift in What's Worrying U.S. Workforce,” WorldatWork, http://www.worldatwork.org/waw/adimComment?id=28056. 25. “LPC Tables,” http://stats.bls.gov/lpc/#tables 26. “American FactFinder,” U.S. Census Bureau, http://factfinder.census.gov/servlet/SAFFSelectIndustry?_event=&geo_id=01000US&_geoContext=01000US&_street=&_county=&_cityTown=&_state=&_zip=&_lang=en&_sse=on&ActiveGeoDiv=&_useEV=&pctxt=bg&pgsl=010&_submenuId=business_2&ds_name=null&_ci_nbr=null&qr_name=null&reg=null%3Anull&_keyword=textile&_industry= 27. Tom Abate, “High-Tech Imports On the Rise: Trade Association Warns State's Exports Declining,” San Francisco Chronicle, July 17, 2007, http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/07/17/BUGOSR1CFD1.DTL&hw=tonelson&sn=001&sc=1000 28. Arthur F. Bentley, The Process of Government: A Study of Social Pressures (Chicago, IL: Chicago University Press, 1908). Additional informationNotes on contributorsCharles W. FreemanCharles W. Freeman III holds the Freeman Chair in China Studies at CSIS and may be reached at cfreeman@csis.org