US And Korea Sign Free Trade Agreement Today

Discussion in 'Economy' started by Mad Scientist, Oct 13, 2011.

  1. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Last edited: Oct 13, 2011
  2. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    And?
     
  3. Old Rocks
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    Old Rocks Diamond Member

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    Hmmm......... What is the living standard in South Korea today? Are their labor laws comparable to ours? Are there environmental laws comparable to ours? If the answer is positive to these questions, why not a free trade pack with them?
     
  4. GHook93
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    GHook93 Aristotle

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    Colombia is one the most capitalistic and pro-American countries in the Latin America world. They should have had a free trade agreement already.

    NAFTA has been a disaster. We took a trade surplus with Mexico and made it the 2nd largest trade deficit in history (2nd to ours with China). HOWEVER, CAFTA has been a great success. Exports have increased with all the CAFTA countries and we have a trade surplus with them. If the Colombia and Panama trade deals are crafted like CAFTA I am all for it.

    South Korea is a different issue. They are a developing nation and a strong capitialitic nation. However, they regular use non-tarriff trade barriers against US products, esp our cars. If that is still in place it will be a disaster.
     
  5. Unkotare
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    Unkotare Diamond Member

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    South Korea is a more 'developed' country and a much stronger economy than Colombia.
     
  6. expat_panama
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    expat_panama Silver Member

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    --for people that either hate America or don't check their facts.

    NAFTA was signed into law by Clinton in Dec. 1993. Since then, average household income has increased by $24,441 (after adjusting for inflation), US factory output has increased by $875 Bil. (after adjusting for inflation), and the number of Americans working has increased by 21 million.

    More people working getting more done making more money makes any talk about Mexico's trade deficit sound well, stupid.
     
  7. Paulie
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    Paulie Platinum Member

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    Correlation does not necessarily mean causation.
     
  8. expat_panama
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    expat_panama Silver Member

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    True, and irrelevant.

    There's no need to show show a correlation because there isn't one, and that's my point. GHookk93 said NAFTA caused a disaster. I showed that not only was there no disaster, but if anything we're a lot better off. That's the point, there is no correlation.
     
  9. Paulie
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    Paulie Platinum Member

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    It looks like you're portraying a correlation between increased economic prosperity and NAFTA.
     
  10. expat_panama
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    expat_panama Silver Member

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    Talking about me and how I look is one of my favorite pastimes, but GHook's important too and we need to focus on what he's saying because he's in very good company; a lot of people say NAFTA was a disaster. During the '08 primaries Obama argued with Hillary about how he didn't like NAFTA either.

    I can't imagine what possible proof you or anyone would be willing to accept about whether people are better off with higher taxes on imports or without them. All I can say is that when I pay higher taxes I end up with less money. I see a causal relationship between my paying higher taxes and my having less money afterward, but I realize that there are many here who don't see the causality so I don't bother with arguing the point.

    The point that there was no disaster with NAFTA is an easier battle.
     

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