North American Free Trade Agreement (Nafta)
North American Free Trade Agreement (NAFTA)
I. Brief overview of NAFTA (mainly for in-class presentation)
a. NAFTA Introduction
b. Original Expectations
II. NAFTA over the last 12 years
a. Impact on the U.S. economy
i. Jobs (Employment Growth) ii. Labor iii. Income iv. Imports vs. Exports (Trade Deficit)
1. Agriculture
v. Economic growth
b. Impact on Canadian economy
c. Impact on Mexican economy
d. Global Impact
i. International Business ii. FDI (Foreign Direct Investment)
III. NAFTA - The Good, the bad and the ugly
a. Successes
b. Short Comings
i. Lessons Learned
c. Broken Promises
IV. NAFTA’s role going forward
a. What needs to be fixed?
i. Current Issues and Challenges
b. How do you fix it?
i. Solutions being considered
I. Brief Overview:
NAFTA, The North American Free Trade Agreement, came into existence on January 1, 1994. NAFTA is basically a free-trade agreement between the three North American countries of the Unites States, Canada, and Mexico. The main idea behind this treaty was to provide the people and the businesses of the North American countries many incentives to trade amongst each other. The duties on U.S goods shipped to Mexico were reduced by 50 percent, and other restrictions were to be removed from many categories, such as motor vehicles, computers, automotive parts, and agricultural goods. NAFTA was also put into action in order to protect the intellectual property rights of the businesses, such as patents, copyrights, and trademarks. Other supplemental agreements were also signed in later years, which allowed for worker and environmental protection. Although many people might think that the NAFTA is like the EU (European Union), it is quite different. NAFTA, unlike EU, does not set up a collection of supranational governmental bodies, nor creates any law that is superior to the national law of each of the member countries (Wikipedia; International Trade Canada).
II. NAFTA in the last 12 Years:
I. Brief overview of NAFTA (mainly for in-class presentation)
a. NAFTA Introduction
b. Original Expectations
II. NAFTA over the last 12 years
a. Impact on the U.S. economy
i. Jobs (Employment Growth) ii. Labor iii. Income iv. Imports vs. Exports (Trade Deficit)
1. Agriculture
v. Economic growth
b. Impact on Canadian economy
c. Impact on Mexican economy
d. Global Impact
i. International Business ii. FDI (Foreign Direct Investment)
III. NAFTA - The Good, the bad and the ugly
a. Successes
b. Short Comings
i. Lessons Learned
c. Broken Promises
IV. NAFTA’s role going forward
a. What needs to be fixed?
i. Current Issues and Challenges
b. How do you fix it?
i. Solutions being considered
I. Brief Overview:
NAFTA, The North American Free Trade Agreement, came into existence on January 1, 1994. NAFTA is basically a free-trade agreement between the three North American countries of the Unites States, Canada, and Mexico. The main idea behind this treaty was to provide the people and the businesses of the North American countries many incentives to trade amongst each other. The duties on U.S goods shipped to Mexico were reduced by 50 percent, and other restrictions were to be removed from many categories, such as motor vehicles, computers, automotive parts, and agricultural goods. NAFTA was also put into action in order to protect the intellectual property rights of the businesses, such as patents, copyrights, and trademarks. Other supplemental agreements were also signed in later years, which allowed for worker and environmental protection. Although many people might think that the NAFTA is like the EU (European Union), it is quite different. NAFTA, unlike EU, does not set up a collection of supranational governmental bodies, nor creates any law that is superior to the national law of each of the member countries (Wikipedia; International Trade Canada).
II. NAFTA in the last 12 Years:
Cited: 1. Angell, Wayne, Dr. “Dollarization: What a Wonderful Opportunity,” Hearing on Official Dollarization in Emerging-Market Countries, April 22, 1999. http://www.economiaysociedad.com/dollarization.htm (Accessed February 9, 2006) 2. Fugate, Jeff, “A Recipe for Success,” Yale Economic Review, Spring 2005: Online at: http://www.yaleeconomicreview.com/spring2005/nafta.php (Accessed February 9, 2006) 3. Griswold, Daniel T., “After 10 Years, NAFTA Continue to Pay Dividends,” CATO Institute, January 8, 2004. http://www.cato.org/dailys/01-08-04.html (Accessed February 9, 2006) 4. International Trade Canada, “Canada and the North American Trade Alliance,” Online, http://www.dfait-maeci.gc.ca/nafta-alena/menu-en.asp (Accessed February 9, 2006) 5. Mack, Connie, “Basic of Dollarization,” Joint Economic Committee Staff Report, January 2000. http://users.erols.com/kurrency/basicsup.htm (Accessed February 9, 2006) 6. Raney, Terri, and Shayle Shagam, “NAFTA’s Impact on U.S Agriculture: The First 3 Years,” Agricultural Outlook, Economic Research Service/USDA, September 1996. 7. Spiegal, Mark M, “Dollarizaion,” Federal Reserve Bank of San Francisco Economic Letter, September 24, 1999 http://www.frbsf.org/econrsrch/wklyltr/wklyltr99/el99-29.html (Accessed February 9, 2006) 8. Wikipedia, “North American Free Trade Alliance,” Online, http://en.wikipedia.org/wiki/North_American_Free_Trade_Agreement (Accessed February 9, 2006) 9. The World Bank Group, “On the Definition of Dollarization,” Online, http://lnweb18.worldbank.org/External/lac/lac.nsf/bc67c81027cc470e852567d6006c2776/b8099e91bf7df8f5852568ce005cf400?OpenDocument (Accessed February 9, 2006)