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North American Free Trade Agreement Flashcards

(18 cards)

1
Q

Who signed this agreement?

A

The USA, Canada and Mexico

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2
Q

When was the agreement signed?

A

In 1994

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3
Q

What was the main driver for this agreement?

A

The challenge presented by trade blocs from other parts of the world

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4
Q

Which trade blocs in particular were the main driver for this agreement?

A

Europe

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5
Q

When did Mexico get into debt?

A

In the 1970s and 80s

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6
Q

What did Mexico hope would result from joining NAFTA?

A

Economic growth and more employment would result

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7
Q

What are the 4 main aims of NAFTA?

A

Gradual elimination of all trade barriers
Promotion of economic competition between members
Increased investment opportunities
Generally improved co-operation between three member states

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8
Q

What have supporters of NAFTA pointed out in terms of trade?

A

Trade between member countries tripled between 1993 and 2007

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9
Q

What have supporters of NAFTA pointed out in terms of manufacturing?

A

It has grown in the USA with increased employment

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10
Q

How has Mexico benefited from NAFTA?

A

It has received more foreign investment and Mexican workers receive higher wages and increased sales from agriculture reduces migration

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11
Q

Why has Mexico received more foreign investment?

A

Foreign TNCs establish themselves here to gain access to the NAFTA trading partner markets

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12
Q

What has happened to some Canadian countries as a result?

A

They have closed because of competition from lower-cost US firms

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13
Q

What has happened to some American jobs?

A

Some US firms have moved to Mexico so some American jobs have been lost

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14
Q

What could happen to food surpluses?

A

Food surpluses in Canada and the USA may be dumped in Mexico, reducing food prices and affecting the agricultural economy there

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15
Q

Why could Mexico be exploited?

A

Because of its natural resources and less stringent pollution laws

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16
Q

What is another disadvantage to Mexico?

A

The growth of US-owned, labour intensive, export-orientated companies on the Mexican border keeps wage rates down

17
Q

What is a maquiladora?

A

A manufacturing operation located in a free trade zone in Mexico

18
Q

What do maquiladoras do?

A

Import materials for assembly and then export the final product without any trade barriers