Saturday, July 02, 2005

Real Progress

Was made this week with the adoption of the Central American Free Trade Agreement (CAFTA). Yes, I know it's not truly free trade. Yes, I know that it subjects us to added bureaucracy. And no, I'm not happy with giving the UN added power in arbitrating disputes. That being said, the great benefits of FREER trade with lower trade barriers and reduced tariffs and subsidies outweigh the negatives that some portion of that trade will be subject to supergovernmental bodies and additional regulation. In short, we are better off with expanded trade under excessive regulation than we are in the absence of an agreement to make that trade possible at all.

Of course, in the ideal world, this agreement would be a page or two rather than the 1000+ pages that it is. Regardless, this agreement represents a profound step in the right direction for Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and the Dominican Republic as well as for ourselves.

A.M. Mora y Leon has the roll call of Pride and Shame over at Publius Pundit.


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