Abstract
The past two decades have witnessed a resurgence in regional trading agreements, and a slowdown in the pace of multilateral trade liberalization through the General Agreement on Tariffs and Trade (GATT), or what is now known as the World Trade Organization (WTO). Amongst the newer arrangements is the North American Free Trade Agreement (NAFTA) between the United States, Canada, and Mexico as well as the Southern Cone Common Market (MERCOSUR) between Argentina, Brazil, Paraguay, and Uruguay. It now appears that a Western Hemisphere trading bloc might join Europe and Asia as part of a new international order, and economists are divided on the question of whether this configuration will lead to trade conflict or broader cooperation.
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Riley, R. (1999). NAFTA: The US Perspective. In: NAFTA — Past, Present and Future. International Handbooks on Economic Integration, vol 2. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-5165-2_4
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DOI: https://doi.org/10.1007/978-1-4615-5165-2_4
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