It is no secret that shifting production to third world countries making workers in the West compete with the workers' salary in third world countries has really been harmful. What about cause and effect on trade deals, neoliberalism etc.? What about what is wrong and right? The experience we've had with these so called free-trade deals (benefiting mostly banks, multi-national corporations hence the rich and wealthy) is clear cut negative for the average worker Joe or Jane out here in the West. When a person believes in something (an ideology, utopia, religion, neoclassical economics, neoliberalism etc.) without questioning it, it pretty much makes him/her blind to see in the world of science.
Both Hillary Clinton and Donald Trump oppose the biggest trade initiative launched by President Barack Obama’s administration – the Trans-Pacific Partnership (TPP) with 11 other Pacific Rim countries – and both would revisit the North American Free Trade Agreement (NAFTA), which has been in force since 1994. Regardless of who wins next month’s presidential election, a free-trade skeptic will occupy the White House. Nowhere is opposition to free trade louder than in the United States. Yet, in rich countries today, the mood has turned against free trade.
Yes, there are costs to free trade that must be better addressed but the costs are vastly outweighed by the benefits. Lowering trade barriers even more could double average incomes in the poorest parts of the world over the next 15 years. It has already helped lift more than a billion people out of poverty over the past quarter-century.
PRAGUE – Global free trade provides the greatest opportunity to improve human welfare over the next decade and a half.
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