Bloomberg News’ Mark Drajem reports today that, with the economy being such a pressing issue, the incoming Obama administration will have to delay its long-touted efforts to revisit and revise NAFTA.  In particular, Drajem quotes AAM Executive Director Scott Paul regarding the “active crisis” of addressing unbalanced trade with China.

  Crisis indeed.  The U.S. has lost more than 2.3 million jobs to China since 2001, with more than half (55.6 percent) of those jobs falling among the top half of American wage earners. Nearly a third (31 percent) of the jobs lost were among workers with a college degree, including the loss of 200,000 scientists and engineers within the manufacturing sector (a 10.7 percent drop).

As both the outgoing Bush administration and incoming Obama team grapple with rising unemployment, they’ll need to address the big elephant in the room: China. 

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