Foreign Trade in the 90s
The advances of the technological revolution have molded the evolution of the United States' foreign trade in the 1990's and into the new millennium. Globalization has become the credo for the Clinton administration, and the booming American economy has done nothing but strongly bolster this approach.Globalization's foothold in American policy really began in the much-debated North American Free Trade Agreement (NAFTA), which was finally passed in 1994. NAFTA specifically said one of its goals was to "contribute to the harmonious development and expansion of world trade and provide a catalyst to broader international cooperation". However at the time that was hardly the case. But harmonious was the last word used to describe the conflict that followed, with labor unions fiercely opposed to losing American jobs to a borderless North American economy and right wing Republicans equally opposed to the anti-isolationism this bill offered. The Democratic Clinton administration had to buck its own Democratic stronghold in Labor, to support this agreement. However, it would be one of the chief foreign trade accomplishments of the last decade. It's undoubtedly boosted the economy. Allowing expansion of trade, and decrease of
Of course globalization has had its detractors. Chief of which concern human & labor rights and environmental abuses in the countries in which America has expanded its trade. Many complain that giving access to products made by abused workers or by companies that pollute the environment only propagate these terrible international problems. For instance NAFTA specifically stated that expanding free trade throughout North America was only applicable to companies that met acceptable working standards. However, defining "acceptable" is tougher job then just writing it in some legislation. Presently, one American employee for a steering-wheel plant makes approximately $10.46 per hour, compared to his Mexican counterpart, who makes about $0.75 per hour. Working conditions, health and safety standards are also drastically below American standards. And, as labor unions portended approximately 400,000 manufacturing jobs have been lost in the United States, and have been subsequently gained in Mexico. So far, companies like Thompson Consumer Electronics, Jay Garment, Magne Tek, Uniroyal, Goodrich and Breed Technologies have moved at least 107 plants in Indiana alone to Mexican plants. So if we know that labor and environmental rights are being abused in Mexico, is it still in our best interest to expand trade to them? In the end it is a balance of power between the concerns of the masses and might of the roaring economy that will hopefully win out. However, avariciousness is an all too common human failing, and we as a species will be hard-pressed to take both what is good and what is right into consideration
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Approximate Word count = 1093
Approximate Pages = 4 (250 words per page double spaced)
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