In the 21st century economy, life moves pretty fast, and change is happening all around us. For example, it was common to drive to shopping malls with your friends or family and spend the whole afternoon browsing through hundreds of items until you found the perfect purchase. Or, only a…
In the 21st century economy, life moves pretty fast, and change is happening all around us. For example, it was common to drive to shopping malls with your friends or family and spend the whole afternoon browsing through hundreds of items until you found the perfect purchase. Or, only a few months ago, the entire world was put on lockdown to stop the spread of COVID-19, which caused a recession when consumers stopped spending as much to start saving. Americans also used to enjoy their loud, gas-guzzling cars and trucks to get them from place to place. Now what changed, and why? The study of economics justifies how we, as human, fundamentally live and make choices every day. As we notice the results of our choices, we may continue to do the same the next day, temporarily go another route, or alter our behavior permanently. This framework presents the concept of innovation. By applying this logic to the business world, I will attempt to analyze and defend why the innovations of e-commerce, COVID-19 vaccines, and electric vehicles were the natural cause of society changing perspective to move forward toward a better tomorrow.
The African Continental Free Trade Agreement is one of the latest developments in the world of African politics. It influences several key policy arenas, including the focus of this paper: developmental policy. The AfCFTA hopes to integrate the intra-African trading system, as well as implement several measures to integrate their…
The African Continental Free Trade Agreement is one of the latest developments in the world of African politics. It influences several key policy arenas, including the focus of this paper: developmental policy. The AfCFTA hopes to integrate the intra-African trading system, as well as implement several measures to integrate their entire economies. This paper examines the intersection between the AfCFTA and developmental policy defining how it helps and hinders African development goals. This thesis intends to give a clear picture of how this agreement coincides with developmental policy through both economic and political research. The goal of this paper is to provide readers with a detailed report on how this economic agreement could be shaping the developmental policy of the African world.
The North American Free Trade Agreement was passed by the U.S. Congress in November 1993. The United States had decided that a regional trade approach would be more beneficial than bilateral trade with its neighbors. This move accepted Mexico as an equal economic partner with the United States and Canada…
The North American Free Trade Agreement was passed by the U.S. Congress in November 1993. The United States had decided that a regional trade approach would be more beneficial than bilateral trade with its neighbors. This move accepted Mexico as an equal economic partner with the United States and Canada despite their economic deficiencies. The NAFTA agreement came into effect on January 1, 1994. Canada, Mexico, and the United States agreed to eliminate tariffs on roughly ninety-nine percent of internationally traded goods by the end of 2004. The agreement was also significant because the three nations took a big step in further liberalizing Foreign Direct Investment policies. NAFTA resulted in what is today a $19 trillion regional market with over 470 million consumers. The U.S. Chamber of Commerce estimates that six million U.S. jobs depend on trade with Mexico and another eight million jobs depend on trade with Canada. As seen, economic interests clearly dominated the NAFTA debate on all fronts. There still were other domestic political interests that further pushed the United States to seek regional integration with Canada and Mexico. Drugs, energy, pollution, and the threat of American jobs as a result of Mexico’s low wages were all major issues considered in the United States at the time. The issues noted above can be closely linked to the United States’ national security interests. Policy-makers and treaty negotiators constantly connected the passage of this agreement to the long-term interests of the United States. For NAFTA to have a chance in the first place, all operational concerns had to have been resolved first. The governing structure for management of the activities that fall under NAFTA’s umbrella was a huge prerequisite. Additionally, separate side agreements with Canada and Mexico had to be negotiated so that the they would offset any future problems NAFTA might create for the United States. Although a challenge, it all came together perfectly and the passage was successfully implemented. Taking everything into consideration, the United States should stray way from its’ isolationist ways and pursue a regional agreement like NAFTA for the betterment of all North Americans.
