CAFTA and Globalization

Paper Summary:

The paper asserts that in the case of CAFTA, the Canadian American Free Trade Agreement, the economic arguments in its favor are both logical and correct. The paper argues that opposition to CAFTA in its inception was due to unfounded fears of potential poor outcomes. The paper maintains how real progress is being seen; free trade is expanding exponentially and many US and Canadian concerns of Asian market dominance are being addressed.

From the Paper:

"In the book Globaphobia Gary Burtless points out that though many assessments of the modern economy are decidedly positive and still others claim that the economy is, "very kind to a few at the top, but barely rewarding for many in the middle, and a continuing nightmare for those at the bottom." The question then arises with regard to globalization that because this economy is expanding to the global marketplace, where the majority of peoples suffering from this "continuing nightmare" live all care must be taken to redress this social concern. Some will invariably argue that the development of trade agreements such as CAFTA is simply the next step in a self-serving corporate mindset to more directly direct the funds into the pockets of those at the very top."

Sample of Sources Used:

• Burtless, Gary Progressive Policy Institute, Robert Z Lawrence & Twentieth Century Fund, Globaphobia: Confronting Fears About Open Trade , New York: Brookings Institution Press February 1998, pg. 1
• "Canada." In The Columbia Encyclopedia 6th ed., edited by Lagass, Paul. New York: Columbia University Press, 2004. Database on-line. Available from Questia, http://www.questia.com/PM.qst?a=o&d=101235420. Internet. Accessed 30 April 2007.
• Crookell, Harold. Canadian-American Trade and Investment under the Free Trade Agreement. New York: Quorum Books, 1990. Book on-line. Available from Questia, http://www.questia.com/PM.qst?a=o&d=37086691. Internet. Accessed 30 April 2007.
• Dodge, William S. "Investor-State Dispute Settlement between Developed Countries: Reflections on the Australia-United States Free Trade Agreement." Vanderbilt Journal of Transnational Law 39, no. 1 (2006): 1+. Database on-line. Available from Questia, http://www.questia.com/PM.qst?a=o&d=5016812728. Internet. Accessed 30 April 2007.
• Gantz, David A. "An Appellate Mechanism for Review of Arbitral Decisions in Investor-State Disputes: Prospects and Challenges." Vanderbilt Journal of Transnational Law 39, no. 1 (2006): 39. Database on-line. Available from Questia, http://www.questia.com/PM.qst?a=o&d=5016812732. Internet. Accessed 30 April 2007.

More papers on CAFTA and Globalization:

• Analytical Essay # 144777 : "Regional Integration and Globalization"
• Analytical Essay # 122139 : "Regional Trade and Global Business"
• Essay # 87995 : "Globalization"

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