Part 3/10:
The upward trajectory of China's economy post-World War II, particularly after it joined the World Trade Organization (WTO) in 2001, coincided with a predominant outsourcing trend. U.S. companies began moving manufacturing sites to China to capitalize on its cheap labor, leading to unprecedented export levels. However, the resultant increase in American imports from China created a vast trade deficit. By 2024, this deficit reached an alarming $1.2 trillion.