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NAFTA is a disaster
March 24, 2008 on 9:35 pm | In Social & Political Issues | 1 CommentIt’s not hard to understand why the Toronto Star opines in an editorial that NAFTA (North America Free Trade Act) has been a good thing for Canada. The Star is a big business and it’s strictly for big business that NAFTA was invented.
For most of us, NAFTA is an unmitigated disaster. It has forced the loss of our manufacturing sector in Ontario to be off-loaded to Mexico and, inevitably, to China. Bill Clinton, when he was president, made sure China got the lion’s share of North American jobs. He was the one who gave China Most Favored Nations status with the U.S. (and thus, through NAFTA, with Canada).
The next imminent danger is that Canada will be forced to give up our precious water rights to multinational companies who can drain our lakes and destroy our resources.
That’s NAFTA. It’s wrong and should be abandoned.
Frank Touby
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Yep, it’s time to get rid of NAFTA. While it did increase trade between the three signators it was a total diaster as a trading bloc. NAFTA only opened the door for more trade deals which were totally one sided. They permitted our financial service companies to operate in these foreign nations but also let the multinationals in to produce products to ship back to North America at the expense of North American jobs. Meanwhile, these countries kept their trade barriers in place against imports from North America.
Just today Tata Motors bought Jaguar and Land Rover from Ford at half the price that Ford paid for them. Tata will make a success of this venture, not because they’re any smarter than Ford, but because, while they continue to sell into North America, they will now be able to sell into Asia where trade barriers had previously blocked these vehicles.
To add to that, if the ongoing SPP negotiations are successful the North American nations will be so economically entwined that the banks will have a greater control over our economies than they enjoy now. They will then be able to drive the value of real estate down to levels that will permit Asian investors to scoop them up for 10 cents on the dollar using North American capital. They can then rent them back to us at cheap rates so we will all have some place to live as we work for Asian level wages.
Powell Lucas
Comment by Powell Lucas — March 27, 2008 #