China shock
The China shock (or China trade shock) is the impact of rising Chinese exports on manufacturing employment in the United States and Europe after China's accession to the World Trade Organization in 2001. Studies agreed that the China trade shock reduced U.S. manufacturing employment, although their estimates of the scale of the effect range from 550,000 (explaining about 16% of the total decline in manufacturing employment in the U.S. between 2000 and 2007), through 1.8-2.0 million, to 2.0-2.4 million.