An article in Huff-Post shared by Dr.Ehtisham
NAFTA promoters in the ’90s promised increased U.S. exports and jobs, with shrinking trade deficits. Senior Fellows of the Peterson Institute for International Economics (PIIE), projected a NAFTA-induced trade surplus with Mexico, in turn, creating 170,000 new U.S. jobs by 1995. Within two years of NAFTA’s passage, PIIE prognosticators readjusted their projection of new NAFTA-created jobs downward to “zero.” The same group, created by billionaire corporate cheerleader Pete Peterson, is again forecasting increased exports and jobs if the Trans-Pacific Partnership (TPP) is passed.
Referencing 19 serious pre-NAFTA economic studies projecting zero net job loss if NAFTA were to pass, President Bill Clinton estimated the creation of 200,000 U.S. jobs within two years, and 1 million within five years, based on a projected export boom to Mexico. Twenty years after Clinton signed NAFTA into law, Global Trade Watch reports a 450 percent increase in the U.S. trade deficit, resulting in the export of almost one million jobs, and downward pressure on wages.
In fact, the average annual U.S. agricultural trade deficit with Mexico and Canada ballooned to almost three times the pre-NAFTA level, to $975 million within two decades of NAFTA’s passage, eliminating an estimated one million net U.S. jobs by 2004, reports the Economic Policy Institute. As U.S. food processors moved to Mexico to take advantage of low wages, U.S. food imports soared. Public Citizen has tallied in a comprehensive report the promises by U.S. corporations to create specific numbers of jobs if NAFTA passed, and the consequent record of many of the same firms who relocated jobs to Mexico and Canada.
The export of subsidized U.S. corn did increase over NAFTA’s first decade, decimating the livelihoods of more than one million Mexican campesino farmers plus an additional 1.4 million agricultural workers, triggering mass dislocation, wage depression and a doubling of Mexican immigration to the United States.
Observed Bill Moyers recently, “The post-NAFTA era has been marked by growing inequality, declining job security and new leverage for corporations to attack government regulations enacted in the public interest.”
“Free Trade” Advocates Convene at Clinton Global Initiative
Echoing promises of lowered trade barriers, improved labor conditions and environmental protections made by NAFTA advocates two decades earlier, Secretary of State Hillary Clinton in Hanoi, Viet Nam in 2012 promoted the Trans-Pacific Partnership, the most far-reaching trade agreement ever, encompassing 12 Pacific Rim countries. Secretary Clinton stated support for free expression online, and pronounced, “Democracy and prosperity go hand-in-hand,” even as the backroom dealings of hundreds of corporate lobbyists have engaged in writing the TPP to challenge everything from Net Neutrality to democratic process and state sovereignty. An amplification of NAFTA provisions, leaked segments of the secretive treaty reveal that wholesale powers granted by the TPP to corporations would permit them to sue governments for alleged lost profits in special international tribunals that bypass the U.S. court system, and to advocate overturn of regulatory laws intended to protect people and the environment.