This summary is on the article Obama cleaves win as Congress passes throw in- occupation discernments By Zachary A. Goldfarb and Lori Montgomery, Published: October 12. It talks active after years of delay, Congress finally passed free trade agreements with south-central Korea, Panama, and Columbia. President Obama is eager to approve the deals, as he believes they depart help to create jobs in the U.S. But some unions atomic number 18nt so sure. They fear that U.S. firms will just ship more jobs abroad now that they can take advantage of lower jab costs in those nations. Whos right here? Lets consider sulphur Korea, in particular, since its arguably the most significant and because better statistics be available on U.S. trade with South Korea.
Why could free trade with South Korea help? Its a pretty biggish market -- the fourth largest economy in Asia. The free trade agreement will make U.S. exports more attractive to nearly 50 million consumers. In fact, the U.S. exports to South Korea have already been seeing pretty robust growth in novel years. Heres a chart: The recession makes this chart a snap ugly. But looking at where exports peaked in the morsel quarter of 2008 through the second quarter of 2011, theyre up about 19%. Over the same period U.S. global exports are only up 9%.
So South Korea has already been a rapidly expanding market for U.S. goods and services. This free trade agreement should make that growth even steeper.
Of course, exports are only fractional the story -- imports should also rise. In particular, this could cost U.S. jobs in deuce ways: some Korean goods will be comparatively cheaper than those produced in the U.S., and some corporations might ship jobs overseas. South Korean President Lee Myung-bak is to deliver a joint speech to Congress Thursday and then travel with Obama on Friday to a General Motors plant near Detroit that is described as a likely beneficiary of the agreement.
Reference
Goldfarb Zachary A. & Montgomery Lori.
Obama gets Win...If you want to get a full essay, order it on our website: Ordercustompaper.com
If you want to get a full essay, wisit our page: write my paper
No comments:
Post a Comment