I don't know what "fair" trade means, especially when all the different countries involved are not on the same level playing field. To a Businessman, Free Trade means the opportunity to maximize profit.
Free Trade means to eliminate all tariffs and to eliminate all nontariff bariiers too, like quotas.
The reason why "fair" trade is almost impossible is that trade is directly influenced by macroeconomic changes in individual countries and globally, such as changes in income and exchange rates.
Everything depends, of course, on healthy growing economies.
I'm well aware of the criticisms from the AFL-CIO: it lures U.S. jobs away to lower-paying wages in other countries and It has turned a trade surplus into a massive deficit.
The name of the game in these trade agreements, Ron, is to open markets, increase trade dramatically, create new jobs and get the global economy growing. Sorry, but I'm an unabashed Capitalist.
Sure, if the World had one global currency, which I don't think is very realistic or practical, some of the inequities would be resolved.
I think it is no accident that stock markets have responded very favorably to these trade agreements and opening of markets.
Clinton's ferocious stance on Free Trade has made him IMO a very good President. I consider guys like Buchanon and Perot(Gephardt too) to be very dangerous and bad for business. |
