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International Trade Agreements


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International Trade Agreements

  1. 1. International Trade Agreements Hojun
  2. 2. NAFTA (North American Free Trade) <ul><li>History of Agreement </li></ul><ul><li>The NAFTA initialing ceremony in October 1992. (Canada, USA, Mexico) </li></ul><ul><li>Provisions regarding worker and environmental protection were added in 1993. </li></ul><ul><li>NAFTA went into effect on January 1, 1994. </li></ul>
  3. 3. NAFTA Impact on canada <ul><li>Environmental Effects </li></ul><ul><li>In 1996 an American company brought a toxin damaging to the nerve system known as MMT into Canada. </li></ul><ul><li>Economical Effects </li></ul><ul><li>Many local business has been removed because of Mexico's cheap labor </li></ul>
  4. 4. NAFTA <ul><li>Before NAFTA was signed many North American company built their factories on Asia due to cheap labor. Now they do not have to spend their money to build their factory so far away from their company. </li></ul>
  5. 5. NAFTA Benefit <ul><li>From 1993 to 2006, trade among the NAFTA nations climbed 198 percent, from $297 billion to$883 billion. </li></ul><ul><li>As of 2006, each day the NAFTA countries conducted nearly $2.4 billion in trilateral trade. </li></ul><ul><li>For agriculture, Canada and Mexico alone account for 50 percent of the increase in U.S.agricultural exports to the world since 1993. </li></ul><ul><li>NAFTA has been good for Mexican agriculture. Trade growth has been remarkably balanced,with U.S. agricultural exports to Mexico increasing by $7.3 billion and U.S. agricultural imports </li></ul><ul><li>from Mexico increasing by $6.7 billion during the last 13 years. </li></ul>
  6. 6. NAFTA NEWS <ul><li>NAFTA good for Ohio economy </li></ul><ul><li>According to the U.S. Department of Commerce, 55 percent of all Ohio exports go to Canada and Mexico. </li></ul><ul><li>Obama reaffirms promise to renegitiate NAFTA </li></ul><ul><li>On trade and the economy, President-elect Obama said that with both countries facing very difficult economic times, it's important to work together to maintain a constructive and comprehensive dialogue. </li></ul>
  7. 7. NAFTA NEWS <ul><li>NAFTA, Learning to love neighbor </li></ul><ul><li>Trade between the United States and its two closest neighbors has accelerated under NAFTA. But there are still some rough patches to work out between the three countries </li></ul>
  8. 8. I.M.F <ul><li>The International Monetary Fund (IMF) is an organization of 185 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world. </li></ul>
  9. 9. IMF <ul><li>The International Monetary Fund was formally created in July 1944 during the United Nations Monetary and Financial Conference. The representatives of 45 governments met in the Mount Washington Hotel in the area of Bretton Woods, New Hampshire, United States of America. The IMF was formally organized on December 27, 1945, when the first 29 countries signed its Articles of Agreement. The statutory purposes of the IMF today are the same as when they were formulated in 1944 </li></ul>
  10. 10. IMF Conttoversy <ul><li>Quota means how much money a country give to the organization and it represent the voting power in the IMF (kind of share), but many Asia countries’ Quota such as Korea, China and Japan under estimated. For example The GDP of Korea 10 th greatest in the world but they have only 0.73 percent of Quota. </li></ul>
  11. 11. IMF NEws <ul><li>IMF approves 2.46 billion dolor loan for Belarus </li></ul><ul><li>The International Monetary Fund gave final approval Monday to an emergency loan of 2.46 billion dollars to help Belarus cope with the global financial crisis. </li></ul>
  12. 12. IMF NEWS <ul><li>Crisis may increase China's role in IMF </li></ul><ul><li>The ongoing global financial crisis may present China with a good chance to increase its quota and voting power in the International Monetary Fund </li></ul>
  13. 13. IMF NEWS <ul><li>IMF: Global Meltdown Worse Than Expected </li></ul><ul><li>IMF said the world economy is slowing more than the IMF had predicted and warned that this will have a severe impact on Central and Eastern European economies. </li></ul>