Technology, not China, can be blamed for regional job losses in developed countries, IMF finds

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Automation rather than market competition from China can be blamed for regional job losses suffered in developed countries, including American rust belt states, according to new research by the International Monetary Fund released on Wednesday.“Increases in import competition in external markets associated with the rise of China’s productivity do not have marked effects on regional unemployment,” the Washington-based fund said in an academic paper. “Only technology shocks tend to have lasting…

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