On a recent episode of Wednesday Night Specials, Glenn Beck delved into the impact of elite-driven trade policies on the American middle class over the past three decades.
China’s accession to the World Trade Organization in 2001 was initially touted as a step forward. However, it ended up causing significant economic distress nationwide.
“In the year China joined the WTO, the US imported $100 billion worth of goods from China. Fast forward a decade, and that figure skyrocketed to over $365 billion,” Glenn pointed out.
The trade deficit with China also surged during this time.
“It tripled over the same period, hitting $273 billion. Last year, it reached $295 billion,” Glenn noted.
“So, what’s the fallout from this skewed trade with China?”
In the first decade after China entered the WTO, increased imports led to a loss of 2.4 million jobs, as highlighted in a study by MIT economists from 2016.
This research concluded that while international trade generally provides affordable goods and services, it often comes at the expense of skilled workers. This dynamic creates clear “winners and losers.”
“Trump’s right about this. For too long, our leaders—especially those on the left—have overlooked the losers in this scenario,” Glenn argued.
Economic decline among American workers is especially evident in areas often referred to as “rust belts,” which encapsulates the factory closures and population declines primarily in the Midwest and Northeastern US.
For example, Glenn shows a photo of Galesburg, Illinois, where the Maytag factory, once a hub of employment boasting 5,000 jobs, now lies in ruins, decimated after the last refrigerator left the assembly line in 2004.
He also cites Youngstown, Ohio, once a proud center for American steel, where factories crumbled due to the influx of Chinese steel.
“Since 1970, Youngstown has lost 60% of its population,” Glenn observed, noting significant outmigration occurred between 2010 and 2012, about a decade after China joined the WTO.
Gary, Indiana, another steel manufacturing stronghold, also shows stark changes. “In the 1970s, there were 30,000 jobs at the Gary Works factory. Today, that number is down to 3,700,” Glenn explained.
“From 2000 to 2010, the US shed over 5.5 million manufacturing jobs—the biggest drop in history. It’s, well, the draining of the American dream,” he reflected.
For more insights and commentary from Glenn, the episode is available above.
