The US economy, starting with Hollywood and education, needs China to build back better
- Continued trade with China will be crucial to the US’ economic recovery. Saving jobs in Hollywood and US universities, for example, depends on maintaining strong ties
Just over one year ago, the US stood at the edge of an unprecedented public health and economic crisis. Though the human costs of this tragedy have been immeasurable, America is now on the verge of overcoming this ordeal.
When offices faced lockdown, it was imports of electronics and other work-from-home gear from China that helped Americans stay productive despite tremendous disruption.
Although the US is recovering from the pandemic, there is still a long way to go. Unemployment is significantly down from its peak one year ago, but 4 million more Americans are unemployed today than in February 2020. Just as openness to trade with China helped the US weather the pandemic last year, continued trade with China will be crucial to building back the American economy.
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These cultural exports support American jobs, but these jobs are at risk due to the pandemic. In March 2020, the motion picture and sound recording industries directly employed 430,000 people, according to US labour statistics.