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Tuesday, August 02, 2005

What If CAFTA Had Not Passed

Rich Karlgaard of Forbes.com:

This week our dunce's cap gets passed to Nancy Pelosi, Democratic Leader, U.S. House of Representatives. In coming out against the Central America Free Trade Agreement, which passed the House this week, Pelosi made the familiar (and disingenuous) left-wing case: CAFTA, written by greedy capitalists, fails to include protections for labor and the environment. Otherwise she'd have voted for it.

Yeah, right. Over John Sweeney's dead body you would. If Pelosi and her "petulant progressives" had their way on CAFTA, here is what would have happened:

— No American job would be saved. Low-value jobs are doomed to extinction anyway, mostly from technology automation.

— Poor Central Americans would be hurt. The World Bank estimates that CAFTA will create 300,000 new jobs in shoes, textiles and apparel.

— Honduras and Guatemala, whose legislatures voted overwhelmingly for CAFTA, would have to explain to voters why America stiffed them.

Support for free trade around the world would have been dealt a severe blow if the mightiest economic power had rejected it. Free trade has been an engine of prosperity and peace since World War II. To abandon it now would make the world a poorer, more dangerous place.

1 Comments:

Blogger Sirimba said...

great post. i totally agree. Pelosi would have never vote for CAFTA. ...the FTA is needed to support democracy and incrase trade.... Dems always have one excuse or another

8/02/2005 1:42 PM  

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