The Importanceof a Successful
The Importance of a Successful NAFTA for the United States Economy In this new millennium, international trade and commercial relations are growing more quickly than world national economies. This area of growth is expected to be the source of economic prosperity for all nations. Governments worldwide are recognizing the importance of creating trade alliances and lower trade barriers and tariffs. The goal of these actions is to "foster the deepening of economic integration among countries while at the same time safeguarding national sovereignty, " (Orme P.48). As a result, many governments are now signing free-trade zone agreements and are realizing the potential strengths of their large markets. The North American Free Trade Agreement agreed upon by Canada, Mexico and the United States is one of strongest and most important agreements ever negotiated. NAFTA goes beyond just removing trade barriers; it is an agreement to integrate two developed nations and one developing nation, and their economies. NAFTA is successful, more so than the European Union, Mercosur, or any Asian agreement, because of the unquestionable dominance of the United States and the roles each nation plays. The United States is a technology advanced, prosp
erous and economically diverse country with a large population, Canada is a prosperous, resource and technology based country with a small population, and Mexico is a developing country with a large labor base and a rapidly growing population (Welcome P.12). Each nation is important for the success of NAFTA, and the North American economic integration. The North American integration is not something that was quickly started after the 1994 signing of the North American Free Trade Agreement. The integration has been a work in progress since the end of World War II, and would have continued even if NAFTA were not ratified. NAFTA is not a history changing agreement, but a tool, which can manage the ongoing integration in an efficient and organized manner. It is because of the historic cooperation among these nations that the success of NAFTA is certain. NAFTA creates a large market for the United States and adds volume and efficiency of trading. The United States has invested much into the maintenance of NAFTA, and much into the support of its member nations. "NAFTA brings billions upon billions of dollars into the economies of its nations and creates an economic rival for the European Union" ( Cargill p.6). In order for the world economy to be controlled by the United States, NAFTA must be successful and then expand to encompass the Western Hemisphere. The success of NAFTA is important to the United States because the stabilization and growth of the NAFTA economy means the growth of the United States economy; the creation of a strong competitor for the Economic Union, Japan, and China; and the expansion and control of the world economy by the United States. Mexico's manufacturing base has changed to maquiladoras as their new form of production and manufacturing products and parts. Before NAFTA, Mexico produced small plastic or wood toys and other products that were less technologically advanced. At present day, the toy market is now non-existent, and their factories are competing with those of the Asian Pacific Ream. Even though Mexico has a weak domestic demand, meager purchasing power, and a simultaneous structural change in which the public sector has ceased being the driving force of the economy, the production continues to increase and the economy continues to grow for Mexico. The result is good for NAFTA, and Mexico's continued growth is good economically for the United States. Anonymous. Incomes and Productivity in North America: Papers of the 1997 seminar. Beranan Press. Dallas, TX. 1997.
Some common words found in the essay are:
North American, European Union, NAFTA United, Mendoza P207, Anonymous P45, P3 United, United NAFTA, North America, United Economy, Euro Euro, european union, north american, free trade, economic power, north america, trade agreement, nafta united, common market, success nafta, free trade agreement, american free trade, international economy, north american free, control world economy, american common market,
Approximate Word count = 3016
Approximate Pages = 12 (250 words per page double spaced)
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