also largely now employ less-skilled working-class peop

ople. However, neither the US nor China can expect to keep, much less get back, low-wage, low-skilled manufacturing jobs.

Many people have the impression that Chinese goods are dominant in US markets. That is true only in a few highly com

petitive, low-profit sectors. According to US Commerce Department data, China has more than 50 percent of the

US market in such items as umbrellas, toys, prepared feathers, footwear, straw products, and bedding.

Chinese exporters have from 20 to 50 percent of the US market in ot

her low-value-added markets, plus electrical machinery and equipment, mechanical app

liances, and iron and steel. In most other categories, China has less than 20 percent of the US market.

China also assembles and then exports a lot of phones, computers and other gad

gets to the US. But, most of the profits and wages go to Japanese or South Korean componen