Skip to content Testing the “China Shock”: Was Normalizing Trade with China a Mistake?

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12 Germán Gutiérrez and Thomas Philippon, “Declining Competition and Investment in the U.S.,” National Bureau of Economic Research Working Paper no.

13 Lorenzo Caliendo, Maximiliano A. Dvorkin, and Fernando Parro, “Trade and Labor Market Dynamics: General Equilibrium Analysis of the China Trade Shock,” Federal Reserve Bank of St. Louis Working Paper no.

32 Adam Jakubik and Victor Stolzenburg, “The ‘China Shock’ Revisited: Insights from Value Added Trade Flows,” World Trade Organization Staff Working Paper ERSD-2018–10, October 26, 2018.

38 Levy, “Did China Trade Cost the United States 2.4 Million Jobs?”39 “All Employees, Manufacturing/​All Employees, Total Nonfarm,” Federal Reserve Bank of St. Louis, https://​fred​.stlou​is​fed​.org/​g​r​a​p​h​/​?​g​=mcsO.

94 Levy, “Did China Trade Cost the United States 2.4 Million Jobs?”95 International Monetary Fund (IMF), “Chapter 2: Closer Together or Further Apart?

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