Advantages And Disadvantages Of Free Trade In Nafta
Introduction Free trade becomes a familiar word in today's economic world. Many countries in the world started to apply free trade not just to give what people, especially business people demanding for, but also to fit into the international world, or countries that already applied free trade. Developed countries like The United States of America already applied free trade as a part of their foreign market constitution. America supports the existence of free trade because free trade is the best way to open new market, the international one, to the local businesses who want to export to other countries
The main reason a country like The USA to support free trade is the efficiency in the economy and to increase the national welfare. In the production sector, free trade will make a country produce more goods with the same amount of resources. Because of the big production it will also mean the country will expand their industries which help not only increase of national
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But for some reasons, NAFTA started to show its disadvantages and the disadvantages were not only affecting Mexican but also American.
Because of cheap labors in Mexico, many of companies chose to move their production in Mexico. The US trade deficits with Mexico in a total of97.2 billion dollars and make 682.900 US jobs evicted, it was between 1994 and 2010. Nearly 80% of losses were in manufacturing sector especially in California , New York , Michigan and Texas because they had the highest manufacturing industries and the companies moved to Mexico(Amadeo, 2014).
For Mexican, there are also disadvantages like the Mexican farmers were out of business. When NAFTA removed taxes, the prices of corn and other grains were exported to Mexico below cost and because of those rural farmers could not
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