Tapsearch Com EditorFree Traders NAFTA reported as failure in 1996
May 21st 2009 16:45
Bizarre Politics Reports:
Can't hide the hard facts in hard times. Free trade with NAFTA as an example was a failure from the start
By Ray Tapajna - and Tapsearch Com Dream Renew Articles and Sites
Here is another report from 1996 that predicted the 2009 economic crisis with NAFTA being a failure two years after it was initiated.
President Clinton had to rush billions of dollars to Mexico to save the peso and the Mexican economy soon after pushing NAFTA free trade agreement through Congress. ( The first economic stimulus package went to a foreign nation - Mexico.
1996- Two years after the passing of the North American Free Trade Agreement, more than 4,000 former U.S. factories had been moved to Mexico. It did not stop the massive migration of Mexican workers to the U.S. seeking economic survival.
Fourty-six of 58 companies that promised an increase in jobs for the U.S. failed to deliver on their promises. ( Public Citizens's Global Trade Watch.) Thirteen of 15 U.S. companies that claimed their exports would increase reported no increase or had their export business shrink. This happened inspite of the fact, many components being shipped to former U.S. factories in Mexico were considered to be exports.
Xerox anticipated a 28 percent increase in exports - none of it materialized. As a matter of fact 12 percent of Xerox workers lost their jobs during this period
The president and CEO of Conlan Engineering in Texas reported the treaty failed them.
Many were cautious about The new North American Border Economic Commission funds for investing in Mexico.
Sherry Stephens, president of the Petroleum Equipment Suppliers Ass. in Houston, reported her 194 member-companies, who rely on international markets for up to 70 percent of their revenues, were battered by tough world oil markets. The oil and gas industry lost half of its work force and nine of the top 25 production companies during the past 15 years adn counted on NAFTA to deliver, but NAFTA failed them too.
Fruit of the Loom closed six more factories. Seth Bodner, executive director of the National Knitwear ans Sportswear Association stated he did not see how anyone can say with a straight fae that NAFTA was a good deal for companies like Fruit of the Loom. The President of Fruit of the Loom reported that even if his workers worked for nothing in the U.S. , it was impossible to compete with foreign workers.
This forecasted our economic storms early but no one in government listen. Our economic storms will stop until political leaders in Congress and President Obama admit that Free Trade has failed and is the major cause of our economic crisis.
Here is another report from 1996 that predicted the 2009 economic crisis with NAFTA being a failure two years after it was initiated.
President Clinton had to rush billions of dollars to Mexico to save the peso and the Mexican economy soon after pushing NAFTA free trade agreement through Congress. ( The first economic stimulus package went to a foreign nation - Mexico.
1996- Two years after the passing of the North American Free Trade Agreement, more than 4,000 former U.S. factories had been moved to Mexico. It did not stop the massive migration of Mexican workers to the U.S. seeking economic survival.
Fourty-six of 58 companies that promised an increase in jobs for the U.S. failed to deliver on their promises. ( Public Citizens's Global Trade Watch.) Thirteen of 15 U.S. companies that claimed their exports would increase reported no increase or had their export business shrink. This happened inspite of the fact, many components being shipped to former U.S. factories in Mexico were considered to be exports.
Xerox anticipated a 28 percent increase in exports - none of it materialized. As a matter of fact 12 percent of Xerox workers lost their jobs during this period
The president and CEO of Conlan Engineering in Texas reported the treaty failed them.
Many were cautious about The new North American Border Economic Commission funds for investing in Mexico.
Sherry Stephens, president of the Petroleum Equipment Suppliers Ass. in Houston, reported her 194 member-companies, who rely on international markets for up to 70 percent of their revenues, were battered by tough world oil markets. The oil and gas industry lost half of its work force and nine of the top 25 production companies during the past 15 years adn counted on NAFTA to deliver, but NAFTA failed them too.
Fruit of the Loom closed six more factories. Seth Bodner, executive director of the National Knitwear ans Sportswear Association stated he did not see how anyone can say with a straight fae that NAFTA was a good deal for companies like Fruit of the Loom. The President of Fruit of the Loom reported that even if his workers worked for nothing in the U.S. , it was impossible to compete with foreign workers.
This forecasted our economic storms early but no one in government listen. Our economic storms will stop until political leaders in Congress and President Obama admit that Free Trade has failed and is the major cause of our economic crisis.
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