SJS 8: A Way Forward for Hemispheric Trade

Source: Farnsworth, Eric. "A Way Forward for Hemispheric Trade." Current History 108.715 (2009): 90. Print.

Author Bio: Eric Farnsworth is the vice president of the Americas Society and Council of the Americas. He is an expert on United States foreign and trade policy, specifically on hemispheric matters, with an MPA in International Affairs from Princeton. Mr. Farnsworth previously worked in the U.S. Department of State, as well as the White House Office of the Special Envoy for the Americas. Some of his additional areas of expertise include congressional affairs, energy, and national security affairs.

Summary: The article begins by addressing job creation as the most urgent need for their development of Latin American economies. In order for job creation to occur however, trade and investing must flourish across all nations. Subsequently, new trade strategies must be instituted, even the U.S's, as the existing one is incapable of carrying out the job. This United States current trade strategy is known as competitive liberalization, which was effective for quite a while but has now lead some of the countries to sever agreements with one another. By doing so, the United States is now in a commerical disadvantage. In addition, this method was bound to expire anyways because there is a finite number of nations willing to trade with America, and not too many are interested in working our a free trade deal with the U.S. either. Despite all of this, an increase in trade across the Americas appears to have a hopeful outlook for strengthening all of many economies. Farnsworth mentions that initiative to negotiate and renew existing trade agreements, such as the NAFTA, is the first step towards reaching the hefty goal of creating The Free Trade Area, the 1990's proposition at should remain a long term goal for the countries of the Americas.

Analysis: This article evaluates the need for job creation in Latin America economies , and provides reasons why it is not possible to do so currently. Farnsworth goes into detail about how the trade strategy implemented by the Bush administration was destined to burn out, and a new system most replace it. He also mentions that creating a Free Trade Area across the Americas was "too ambitious" back in the 1990's, but it is still a something for the leaders of American nations to keep in mind. This article addresses some of the content in our transnationalism reading, such as the NAFTA, and similar  radical agreements are being reviewed and revised as the global economy shifts and new problems arise.