Free Trade Agreements in the Face of a Recession
February 16th 2010 12:45
In the beginnings of the Great Depression, countries around the world erected trade barriers. This was one of the causes of a massive drop in world trade and, along with other factors, helped to prolong the depression. This time around, in the Great Recession, this same mistake was not repeated on the same scale. In fact, recently there have been talks around the world of free trade agreements. These countries include, among many others,:
Colombia and Panama (talks have just begun)
Korea and the European Union (will become official in April)
Costa Rica and China (concluded talks)
Costa Rica and Singapore (concluded talks)
Colombia and the European Union (close to signing)
On the other hand, the United States has left free trade agreements with South Korea, Panama, and Colombia lingering on the table. Barack Obama eluded toward progress on these FTAs in his State of the Union, but it would be nice to see them finally put to a vote this year.
Of course, things could be worse. Venezuela is talking about eliminating imports from Colombia. Now there is some smart trade policy!
Follow me on Twitter: @AGoldenDoor
Colombia and Panama (talks have just begun)
Korea and the European Union (will become official in April)
Costa Rica and China (concluded talks)
Costa Rica and Singapore (concluded talks)
Colombia and the European Union (close to signing)
On the other hand, the United States has left free trade agreements with South Korea, Panama, and Colombia lingering on the table. Barack Obama eluded toward progress on these FTAs in his State of the Union, but it would be nice to see them finally put to a vote this year.
Of course, things could be worse. Venezuela is talking about eliminating imports from Colombia. Now there is some smart trade policy!
Follow me on Twitter: @AGoldenDoor
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