May 11, 2011 Headlines: U.S.-China Talks Wrap-Up, US Trade Deficit Widens, and More
WSJ: U.S. trade gap widens again, this time to $48.18 billion, a rise of 6%.
“Tough love” revived GM: strong support, but several string were attached (The Hill). And now they plan to spend $2 billion to hire workers and upgrade plants in the U.S. (NYT)
Begninning the summit with high hopes (NYT), the U.S. and China made progress on talks (Reuters), including an end to China’s illegal subsidies (The Hill) . But still, no progress on currency (WaPo).
WaPo: As China’s cost advantage begins to disappear, look for a renaissance for American manufacturing.
USAT: Tech jobs are leaving Silicon Valley and heading to India. Why? The workers want to stay, but they’re unable to get the necessary visas.
WaPo: Is China’s economic misfortune our gain?
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