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In reply to the discussion: Heads Up!! "Obama Ready to Defy Base in Order to Advance Trans-Pacific Partnership" [View all]Recursion
(56,582 posts)Last edited Fri Dec 5, 2014, 01:10 AM - Edit history (1)
NAFTA wasn't the disaster it's made out to be here; it was actually pretty good for us (though bad for Mexico, for the most part). Wages went up. US manufacturing and exports went up. US ag benefited hugely. The decrease in manufacturing employment, which had been going on since the 1960's, was stopped for the only time in that whole period. US prototype and heavy manufacturing absolutely boomed (though that probably had more to do with China's progress towards MFN status).
Trade delivered what it promised in the 1990s. The late 1990s were one of the best economic periods in recent memory until the Bush tax cuts killed the golden goose; that was largely because of increased trade.
TPP isn't a great agreement (Krugman's right that we've essentially already picked all the low-hanging fruit here) but on the other hand a Pacific rim economic counterbalance to China wouldn't be a bad thing either. This isn't some mysterious cabal attempting to end national sovereignty (and remember corporations already can -- and do -- sue countries that violate trade treaty terms; that's basically how treaties work).