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 status as a
world power in the global economy. One vital catalyst to help promote growth and
neutralize the massive account deficit and foreign debts is the North American
Free Trade Agreement. NAFTA, for short, is one positive effort that not
surprisingly, has met with the opposition of many. In light of this opposition,
it is evident that NAFTA is accomplishing its primary goals and encouraging the
growth of the American economy.
NAFTA negotiations began on June 11, 1990 when former President George
Bush and Mexican President Carlos Salinas 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 ...