Romania, Germany, Canada, Hungary
English: A North American Free Trade Agreement (NA...
en map of NAFTASince 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 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...