The North American Free Trade Agreement has strengths and weaknesses. The creation of NAFTA strengthened the rules and procedures of investments and trade resulting in economic growth and higher standards of life in Canada, Mexico, and the United States. Many countries already had free trade at the time, but what NAFTA did was impose actual regulations and strengthen the rules of trade.
NAFTA came into effect in 1994, well over 20 years ago. Like any good thing, NAFTA needs to be adjusted throughout time to conform with societal changes. Gender gap in the labor force may not be highlighted in front of America’s eyes, but it remains an overwhelming problem globally. According to Craig Alexander and Barbara MacLaren in their article, Gender equality is
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The overall message of this article is that the NAFTA talks in Mexico
City needs to focus on helping consumers and taxpayers and less about little things that do not matter much.
According to Milke, Free Trade Agreements have massively benefited the world. He supported this with the fact of, “40 million more people are at work now in Canada, Mexico and the United States as compared with 23 years ago at the start of NAFTA.” Open economies usually have a higher growth rate of Gross Domestic Product, which usually means an increased number of jobs created. On the flip side of this argument, is the lowering of the cost from international competitors. This puts domestic producers out of business. Milke reminds the public at the end of his article to not forget that NAFTA is a force for good, and that it has done exponentially more good for countries than bad.
Not everyone wins with Free Trade. According to Homo Reciprocans, “Principles of
Economics: An Incentives and Examples Based Approach to the Consequences of