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Musicmystery -> RE: Obama Pushes South Korean Free Trade Deal (6/27/2010 12:14:08 PM)
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quote:
why free trade agreements are bad for America it's quite simple. There's no possible way we can compete with 3rd world labor costs unless we lower ourselves to their standard of living. Think about it. If they can ship a product overseas and still sell it cheaper than we can make it here, there's no possible way we are going to come out on top. If you need more proof, consider this. The best economy we had in recent history was during the Clinton administration, which was the beneficiary of trickle down economics from the Reagan administration. It always takes 5 to 10 years for the results of ecnomic policies and free trade agreements to reveal themselves. Clinton then signs NAFTA, and China, and look at us now.
Your knowledge of basic economics is sadly lacking--in this case, Comparative Advantage.
Yes, look at us now--Canada, Mexico, and China are our largest export markets. And certainly not our only markets, nor our only trade agreements (we have several).
Think about it. Shutting down nearly $2 trillion dollars worth of U.S. markets. THAT would kill the economy.
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