Effects of the North American Free Trade Agreement
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| Hersteller: | Forgotten Books (Commerce, United States; Congress; Senat) |
| Stand: | 2015-08-04 03:50:33 |
Produktbeschreibung
Excerpt from Effects of the North American Free Trade Agreement: Hearing Before the Committee on Commerce, Science, and Transportation, United States Senate, One Hundred Third Congress, First Session, May 6, 1993 The committee met, pursuant to notice, at 9:40 a.m. in room Sr-253, Russell Senate Office Building, Hon. Ernest F. Hollings (chairman of the committee) presiding. Staff members assigned to this hearing: Ivan A. Schlager, staff counsel; and Kevin M. Dempsey, minority staff counsel. Opening Statement Of Senator Hollings The Chairman. The committee will come to order. For the last 12 years, real wages for working men and women have steadily declined. This is the legacy of a trade policy that placed its faith in the so-called magic of the marketplace. The only magic performed by the market was a vanishing act in which 2 million manufacturing jobs disappeared. Where did those jobs go? This ad, which appeared in the April edition of World Trade magazine, gives part of the answer. "Yes, you can in the Yucatan," the ad proclaims, "Where labor costs are less than $1 per hour, including benefits and the turnover rate is less than 5 percent." At the same time the United States was losing 2 million jobs, at the same time General Motors and IBM were announcing massive layoffs, a jobs boom was taking place south of the border. Since 1986, over 500,000 jobs have been created in the maquiladora sector. Many of these jobs are in factories with familiar names like General Motors, Kodak, and Sara Lee. The downward pressure on U.S. wages and the hemorrhaging of U.S. jobs will accelerate if the administration adopts George Bush´s North American Free Trade Agreement - Nafta. In the coming weeks, there will be dire predictions of a political and financial collapse in Mexico if the Nafta is not approved. Once again, American workers will be asked to sacrifice jobs in order to achieve a broader foreign policy goal. This time, assembly line jobs in Ohio and garment jobs in New York are being traded away in order to promote peace and stability south of the border in Mexico. Once again, American workers will have to pay for the mistakes of financial wheelers and dealers. Why are Mexico and Wall Street so hot for a free trade agreement? This agreement´s roots lie in the debt crisis and Mexico´s need to earn foreign exchange to service this debt. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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