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The North American Free Trade Agreement - Online Term Paper

The North American Free Trade Agreement



Since the birth of this great nation in 1776, the United States has remained a dominant world power in many aspects. The American standard of living has been the envy of the world, powered by an economy rivaled by nearly no one. Our economy continues to be the rock with which the global economy can lean on, as evidenced by nations that rely on huge reserves of the dollar because of its stability as a means of settling international debts. Unfortuneatly, despite the solidity that our economy is so often associated with, we have accumulated a 5 trillion dollar (that's 9 zeros) national debt. Something has to be done about this colossal problem to ensure that the United States retains its ...

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de Gurtari met to discuss the possibility of revising current trade policies. The thing that set the NAFTA apart from other trade agreements historically was that it was to be the first trade agreement entered into between two industrial countries and a developing country. By much of the world the NAFTA is often viewed upon as North America's answer to the European trading bloc. Many provisions of the NAFTA take their roots in the Canada-U.S. Free Trade Agreement which became operational January 1, 1989. A target objective was to create free trade between the United States, Mexico, and Canada rather than a comprehensive economic union such as that of the European Community. Whereas the EC dealt with monetary exchange rate issues by implementing a standard in currency called the "Euro-Currency", the NAFTA would be off limits to such control. Like many issues today, this topic was hotly debated. Many people vehemently argued that job loss and low wages would plague the United ...

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need to convert drivers as merchandise rolls over the borders of a neighboring country.
What all of this could do for the United States is quite clear. The most important objective is to improve the efficiency and productivity of the member countries to more effectively compete against foreign suppliers at home and abroad. The NAFTA imparts an export-led growth strategy to help solve the United States' account deficits. The premise behind the whole thing is quite simple. Once our nation experiences the expected increase in productivity, which in turn forces prices down, exports would ultimately increase. NAFTA will undoubtedly contribute to economic growth in Mexico, which will also ...

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The North American Free Trade Agreement. (2006, April 11). Retrieved December 23, 2024, from http://www.essayworld.com/essays/The-North-American-Free-Trade-Agreement/44220
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"The North American Free Trade Agreement." Essayworld.com. April 11, 2006. Accessed December 23, 2024. http://www.essayworld.com/essays/The-North-American-Free-Trade-Agreement/44220.
"The North American Free Trade Agreement." Essayworld.com. April 11, 2006. Accessed December 23, 2024. http://www.essayworld.com/essays/The-North-American-Free-Trade-Agreement/44220.
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PAPER DETAILS
Added: 4/11/2006 03:10:56 PM
Category: Economics
Type: Premium Paper
Words: 1991
Pages: 8

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» The North American Free Trade A...
» The North American Free Trade A...
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