Word: nafta
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...markets if we want to sell more of our products. Recent history bears this out. Trade was one of the keys to the creation of those 22 million jobs in the 1990s. In fact, U.S. exports to Canada and Mexico grew by more than $110 billion between 1993, when NAFTA was enacted, and last year...
...Free Trade Area of the Americas (FTAA), an initiative to expand North America Free Trade Agreement (NAFTA) to 34 nations of the Western Hemisphere (with the exception of Cuba), brought thousands of protesters to Miami this past week, as well as a delegation of Harvard students sent by the Institute of Politics to observe the action. Media mogul Conrad Black has labeled activists who resist trade liberalization “the political equivalent of football hooligans.” He maintains that, “They are incapable of coherent articulation and they should be dispelled with as little force...
...past two decades, trade liberalization and privatization of public enterprise has carried the day under a banner known as the Washington Consensus. NAFTA, the World Trade Organization (WTO) and the FTAA are among the institutions and frameworks designed to enshrine the Washington Consensus. Harold McGraw III, the chair of the Business Roundtable’s international trade and investment task force, cites World Bank estimates that the removal of trade barriers “could add $2,800 billion to the world economy by 2015, of which $1,500 billion would accrue to developing countries, lifting 320 million people...
...would appear that the rich countries have done quite well by this unleashing of free markets. But, alas, much of the benefits have gone to the wealthiest sectors of society. Under President Bill Clinton, who engineered the passage of NAFTA, the ratio of CEO wages to those of the average U.S. worker skyrocketed from 113 to 1 in 1991 to 449 to 1 at the end of his presidency. According to the Congressional Budget Office, from 1979 to 1997, the average household in the lowest quintile declined significantly, while the average household in the top 1 percent soared from...
...Clinton-era consensus on free trade—has returned glaringly to the fore. A New York Times columnist recently pointed out that most of the Democratic hopefuls have shifted toward Dick Gephardt’s protectionist stance. Dennis Kucinich is calling for the outright repeal of NAFTA. And Joe Lieberman is stuck in the lonely role of defending Clinton’s laissez faire trade philosophy...