Pasadena, CA -- (SBWIRE) -- 10/05/2011 -- The New York State has lost nearly 160,000 jobs since 2001 because of China's unfair trade practices and currency manipulation. This is said to have happened because of the trade deficit in China that almost all of the good paying jobs were lost.

Yuan has appreciated only 10% against the dollar ever since China formally de-nailed from the U.S. dollar back in June. U.S. Sen. Charles Schumer believes that Chinese companies have out bidden New York companies by using methods to create an irregular job field for New Yorkers. This currency manipulation has a huge impact on the manufacturing sector of the States. A shift in manufacturing jobs from China to Mexico is also significant.

Manufacturing jobs are shifting to America after the wage inflation in China. Also, the competition in global manufacturing sector between regional complexes like Asia consists of Japan and China versus North America consisting of U.S. and Mexico among others. Both, U.S. and Brazil, are looking forward to punish countries that manipulate their currency.

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