Not long ago, the global economy didnt matter much to the average American. But the North American Free Trade Agreement (NAFTA) and Most Favored Nation status (MFN) with China taught millions of Americans that economic forces beyond our borders can powerfully affect us, helping determine whether our jobs will be moved away, or whether our wages and benefits will be lowered. One of the great crises facing American workers is the race to the bottom within the global economy. As a result of increased capital flow, various free trade agreements, and the role of international financial organizations like the International Monetary Fund, workers in the United States are increasingly being put in the position of having to compete with desperate Third World workers in Mexico, China, Vietnam and other countries who are forced to work for wages as low as 20 cents an hour. Clearly, Congress must make radical changes in our trade policies and our relationship to such international financial organizations as the IMF and the World Bank. The goal of U.S. policy must be to improve the standard of living of workers in both the United States and the developing world and not simply protect the interests of multinational corporations. We must support fair trade and not free trade, and demand that corporate America start reinvesting in the United States. NAFTA, MAI & the WTONot long ago, the global economy didnt matter much to the average American. But the North American Free Trade Agreement (NAFTA) and Most Favored Nation status (MFN) with China taught millions of Americans that economic forces beyond our borders can powerfully affect us, helping determine whether our jobs will be moved away, or whether our wages and benefits will be lowered. One of the great crises facing American workers is the race to the bottom within the global economy. As a result of increased capital flow, various free trade agreements, and the role of international financi...
