The China shock (or China trade shock) is the impact of rising Chinese exports to the United States and Europe after its accession to the World Trade Organization in 2001. Studies have estimated that the China trade shock reduced U.S. manufacturing employment by 0.55 million (explaining about 16% of the total decline in manufacturing employment in the U.S. between 2000 and 2007), 1.8-2.0 million, and 2.0-2.4 million. Losses in manufacturing employment have also been observed in Norway, Spain, and Germany. Studies have shown that there was "higher unemployment, lower labor force participation, and reduced wages in local labor markets" in U.S. regions that have industries that competed with Chinese industries. Studies have shown that while some markets in the United States suffered adverse w