NAFTA: A Partial Solution Not a Savior to Mexico's Economic Woes
NAVAL WAR COLL NEWPORT RI JOINT MILITARY OPERATIONS DEPT
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NAFTAs impact on the Mexican economy has been positive. The overall economic gains outweigh any short-term shifts in the manufacturing and agricultural sectors. Despite the criticism that NAFTA did not produce a broader and more sweeping transformation in Mexicos economy, NAFTA has been and remains a part of Mexicos solution to a better economy. Trade liberalization has further opened the door to economic integration, modernization, and globalization. However, NAFTA is not enough. A single trade agreement is no substitute for a comprehensive long-term development strategy. Developing a countrys economy along with its human capital is an effort that requires a multifaceted approach involving governmental reforms. NAFTA was, and continues to be, a step in the right direction towards convergence with the United States and Canada. It is, indeed, part of the solution to the problems of Mexicos developing economy, but not all of the solution.
- Economics and Cost Analysis
- Government and Political Science