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Lecture 11

HIST 1F96 Lecture Notes - Lecture 11: World Social Forum, Neocolonialism, North American Free Trade Agreement

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Tami Friedman

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A “Free Trade” Revival
April 1st, 2014
- American and Latin American tensions:
US government and business leaders want to promote free trade, so
capital/services can move back and forth
Resistance was common in Latin America
Collapse of neocolonialism
Revolts and revolutions
- Canada has ties to the US, but desires to maintain national sovereignty
-Globalization: linking across national boundaries (international process)
We see inequalities persist
Globalization Since World War II:
- Globalization had its roots in the Cold War, through the desire to maintain power
in colonies
- Promote economic development in Latin America that would be compatible with
American interests
- US was buying more products internationally than they were selling
- Overseas Production:
US wanted to set up production internationally
US policy said if production was international, they would only need to pay the
tariff on the labour and not the entire duty
- Terms:
Border Industrialization Program: agreement between Mexico and US
Bracero Program: allowed Mexicans to enter US and work as migrant farm
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Maquiladoras: plants set up in free trade zones where Mexican workers were
hired; major US corporations had these
Free Trade Zone (exporting processing zone): special areas with limited
environmental regulations and labour laws
- International Economic Institutions:
International Monetary Fund provides loans to struggling countries to help
stabilize their national economies
Mexico borrowed money from institutions, but they needed to agree to make
changes to their societies
- Terms:
Structural Adjustment (austerity) Program: agreed to make changes to
societies (reduce barriers to trade with other countries, privatize public services,
loosen labour production and price control)
- Trade Agreements:
1965, Auto Pact between Canada and the US
oUS controlled most of the auto trade
oBy signing the pact, the countries eliminated difficulties in sales and trades
oAuto plants began to enter Canada (esp. lower Ontario)
1988, this was followed by Canada Free Trade Agreement
- Terms:
General Agreement on Tariffs and Trade (GATT): countries agreed to promote
free trade with each other (eliminate tariffs)
- After the end of the Cold War (1989-1991):
US wants to facilitate global economy
Expansion of movement of businesses into other countries
New free trade agreements begin
World Trade Organization replaces GATT
It became easier for these institutions to promote capitalist economies
A Hemispheric Partnership?
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