Free Trade: Risks and Rewards

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Overview

Free Trade provides a historical framework for ongoing discussion of economic and environmental issues. While there is empirical evidence on trade flows - they increased dramatically in both directions - the debate on related issues continues. The impact of free trade on jobs and manufacturing productivity, the effectiveness of dispute settlement, the growth of foreign direct investment, the absence of adjustment programs, and the consequences for social programs are all issues for spirited discussion. Many of the leading actors in shaping both the FTA and NAFTA participated in the conference, including former Prime Minister Brian Mulroney, former President George Bush, former U.S. Treasury Secretary and Secretary of State James Baker, former Canadian Trade Ministers John Crosbie and Michael Wilson, former U.S. Trade Ambassadors Clayton Yeutter and Carla Hills, as well as former Mexican Trade Minister Jaime Serra Puche. Other senior officials included Canada's Derek Burney and Simon Reisman. Donald S. Macdonald, chairman of the landmark Royal Commission that recommended the "leap of faith" of free trade, gave the keynote address. A Royal Bank of Canada impact study, "Two Cheers for the FTA," provided a baseline for discussion by a panel of eminent economists from all three NAFTA countries, and strong defences of positions against free trade included presentations by Andrew Jackson of the Canadian Labour Congress (CLC), Jim Stanford of the Canadian Auto Workers (CAW), and Gerald Larose of Quebec's Conseil des syndicats nationaux (CSN). Participants from the provinces included former Ontario Premier Bob Rae, while NAFTA and the environment were considered by a panel led by former Quebec Premier Pierre Marc Johnson and joined by Quebec Liberal Leader Jean Charest. Other participants included Jean Anderson, Laurent Beaudoin, Fernando Clavijo, Thomas d'Aquino, William Dymond, Francis Fox, Jonathan Fried, Michael Hart, Stanley Hartt, Richard Lipsey, Victor Lichtinger, John McCallum, Peter McPherson, Jacques Ménard, William Merkin, Simon Potter, Charles E. Roh, David Schorr, Charles Sirois, Guy Stanley, Yvonne Stinson, Peter Watson, William Watson, L.R. Wilson, and Paul Wonnacott. Free Trade: Risks and Rewards is an important reminder of why the issue was so passionately debated at the time and why it remains important.
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Product Details

  • ISBN-13: 9780773521155
  • Publisher: McGill-Queens University Press
  • Publication date: 8/28/2000
  • Edition description: New Edition
  • Pages: 312
  • Product dimensions: 6.08 (w) x 8.96 (h) x 0.86 (d)

Table of Contents

Preface
Introduction: An Historic Surprise
The Road to Free Trade 3
Interviews with Brian Mulroney and John Turner 35
Leap of Faith 48
A Signal Moment 55
Where There's the Will ... 61
The Negotiation and Approval of the FTA 73
The Canada-U.S. FTA: Real Results versus Unreal Expectations 99
From Leaps of Faith to Lapses of Logic 107
Free Trade in North America: Some Observations 118
NAFTA and the Manufacturing Industry in Mexico: A Preliminary Balance 122
Sectoral Results and Opportunities: An Introduction 135
A Matter of National Interest 137
A New Mindset 139
A Sea Change 142
A New Frontier of Trade Policy 144
The Case of the Softwood Lumber Industry 147
A Reality Check 151
Globalization and the Social Dimension 159
Economic Arguments versus Ideological Ones 166
FTA and NAFTA Dispute Settlement in Canadian Trade Policy 171
Dispute Settlement: A Practitioner's Perspective 175
Mexico and Dispute Settlement 182
From Canada to Mexico: "A Common Future" 191
The Most Comprehensive Agreement Ever 197
NAFTA and the Mexican Economy 200
Free Trade: Then and Now 207
Five Windows for the Future of NAFTA's Environment Commission 213
NAFTA and the Environment: Five Years After 222
NAFTA and the Environment: A Review of the Basic Issues 226
Challenges for the Environment and NAFTA 237
New Policies for a New Century 243
The Future Work of the FTA, NAFTA and the WTO 247
The New Economic Environment 253
App. A Two Cheers for the FTA: Ten-Year Review of the Canada-U.S. Free Trade Agreement 259
App. B Ten-Year Figures for Canada-U.S.A. and Canada-Mexico Trade 275
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