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NAFTA: The Concept - Online Papers

NAFTA: The Concept

The 1900’s have seen many changes in the way economies work. In some countries economies flourish, reaping massive benefits upon its citizens. In other countries, the economy has not done as favorably causing its citizens to be subject to low wages, poverty, and vast unemployment. This causes low standards of living and problems for neighboring economies.
Nations have for many years tried to find ways of forming bonds with one another to strengthen their economies and living standards. This way when one economy is strong, all of the economies can become strong. This is where the North American Free Trade Agreement or NAFTA comes to play. The main mission of NAFTA is to allow free ...

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agreement is an increase of income and gains in Gross Domestic Product. Costs to the consumer fall because of the wide variety of competition available. Why buy something here, if you can get it cheaper there?
NAFTA has its advantages. This increase in trade, competition, income, and Gross Domestic Product will cause increased profit. The profit in turn will increase the standard of living in nations that aren’t as accustomed to the middle class. This is possible to help potentially solve the problem with increased immigration and “Border Jumpers”. But in turn, NAFTA has its disadvantages. Exporting without tariffs makes it difficult for American companies to compete with Mexican companies. The Mexican companies who pay there employees $.75 an hour can market their goods at a lower rate than an American company paying its employees $10.00 an hour. This can cause products to be purchased by the lowest bidder, which can have negative effects on American business.
In ...

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NAFTA: The Concept. (2006, November 26). Retrieved December 23, 2024, from http://www.essayworld.com/essays/NAFTA-The-Concept/56160

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PAPER DETAILS

Added: 11/26/2006 12:20:48 PM
Category: Economics
Type: Free Paper
Words: 408
Pages: 2

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