An article in the Wall Street Journal discussing the effect of Chinese imports on the U.S. economy made the following observation: “[China’s] emergence as a trade powerhouse rattled the American economy more violently than economists and policy makers anticipated at the time. . . . The U.S. workforce adapted more slowly than expected.”
a. What does the article mean that China’s emergence as a trade powerhouse rattled the U.S. economy?
b. Why didn’t economists and policymakers expect the economic effect of imports from China to be as great as it turned out to be?
c. In what sense has the U.S. workforce adapted more slowly than expected?