The North America Fair Trade Agreement (NAFTA) is a significant regional fair trade covenant which has assisted in enhancing intraregional trade between Canada, Mexico, and the United States (U.S.). Since the agreements implementation it has been shrouded by debate on whether it is an effective and successful development strategy. Whilst advocates highlight the agreements successful aim of eliminating trade and investment barriers, as well as significantly broadening trade relations, critics contend that the agreement has failed to meet the expectations of increased jobs and deeper regional economic integration. Additionally, the agreement has been accused of exploiting the vulnerability of the singular developing State, Mexico. Through the application of both the modernisation and dependency theory we are able to recognise which argument is
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and more than a third of U.S. exports to Mexico. Numerous promises were made by all three governments in the lead up to the implementation of the agreement (Weintraub, 1992). The U.S. government informed citizens that NAFTA would establish thousands of new jobs with “U.S. farmers exporting their way to wealth” (Wise, 1998:16). Then President, Bill Clinton, reflected the common sentiment by praising the monumental economic agreement due to its ability to “…permit us to create an economic order in the world that will promote more growth, more equality, better preservation of the environment, and a greater possibility of world peace” (Wise, 1998:3). The Mexican government assured that the agreement would trigger a rise in the State’s current standard of living, whilst also providing innovative economic opportunities that would reduce the increasing rate of immigration to the U.S. (Pastor, 1994). Similarly, Canada was assured that the State’s agriculture trade would only positively
and more than a third of U.S. exports to Mexico. Numerous promises were made by all three governments in the lead up to the implementation of the agreement (Weintraub, 1992). The U.S. government informed citizens that NAFTA would establish thousands of new jobs with “U.S. farmers exporting their way to wealth” (Wise, 1998:16). Then President, Bill Clinton, reflected the common sentiment by praising the monumental economic agreement due to its ability to “…permit us to create an economic order in the world that will promote more growth, more equality, better preservation of the environment, and a greater possibility of world peace” (Wise, 1998:3). The Mexican government assured that the agreement would trigger a rise in the State’s current standard of living, whilst also providing innovative economic opportunities that would reduce the increasing rate of immigration to the U.S. (Pastor, 1994). Similarly, Canada was assured that the State’s agriculture trade would only positively