Flashcards

NAFTA

Alice Kimpton A2 Geography A2 English 8 cards

Cards in this deck (8)

1What is NAFTA?North American Free Trade Agreement
2What countries are included and when was it created?Canada, Mexico and USA
Established in 1994
3Has free trade existed between countries before?Free trade existed between Canada and USA since 1989.
4Is it a large market?Largest free market on the planet with $6 trillion combined economy.
5Why was it created?To eliminate tariffs on agriculture, manufacturing and services, removes investment restrictions, protects intellectual property rights
6Positives: . Trade . Prices . Reliance. Increased trade- trade quadrupled to $1.14 trillion
. Lower prices (particularly oil)- Mexican oil is cheaper, means transport is cheaper
. Decreased reliance on oil from Middle East
7Positives: . Exports . Jobs . Spending. Increased exports
. Job creation- 5 million in the US alone
. Reduced government spending
8Negatives: . Jobs . Environmental . Farmers. Loss of jobs- US companies closed down as labour cheaper in Mexico, 682,900 jobs lost
. Environmental issues
. Loss of farmers in Mexico- 1.43 million jobs lost, because American agriculture was being subsidised so much

Description: A2 A2 Geography (Development and Globalisation ) Flashcards on NAFTA, created by Alice Kimpton on 08/12/2016.
Created by: Alice Kimpton · Dec 2016
Updated: Jan 10, 2017
Views: 2
Rating