Globalization A Free Trade Phenomenon Essay - 866 Words

Globalization is â€Å"the integration of states through increasing contact, communication and trade to create a holistic, single global system in which the process of change increasingly binds people together in a common fate† (Carey 2002). Some economists recognize globalization as being in the best interest of all states. While others believe that increasingly liberated trade and global economic interaction is necessary in many ways. While globalization marks a move toward a more open world-trading regime, it can also be linked to strains on sovereignty, worker’s rights, and the environment. â€Å"Issues of globalization and free trade are surrounded by heated debate and controversy. Problems with contemporary free trade are rooted mainly in†¦show more content†¦The WTO is governed by the rules of the GATT, however, the decisions it makes are binding, and member states are required to abide by its resolutions. Since its beginnings, the WTO has overseen international trade and has stimulated freer international trade across the globe. In addition, the establishment of the WTO has led to the formation of various other free trade areas across the globe. However, there are many people and politicians who are opposed to free trade and its implications. The North American Free Trade Agreement is a non-customs free trade association between the United States, Canada, and Mexico. NAFTA allows for goods to be traded freely between its member states with only minimal tariffs and restrictions. However, many feel that this is not in the best interest of our nation. For example, Ex-President Clinton requested fast track authority to negotiate an expansion of NAFTA. Congress refused Clinton’s request, and without a definitive vote on his treaty, he could not further negotiate an increase of free trade in North America. The reason for political opposition to free trade stems from the implications it has for the sovereignty of the United States. Whenever a state agrees to loosen its regulations, it relinquishes some power over international relations. Thus, the increased globalization resulting from freer trade is a source of political turmoil. ManyShow MoreRelatedEssay Creating a Better Future Through Globalization1536 Words   |   7 PagesThe term â€Å"globalization† was known in the common vocabulary in the 1980. It is used to describe the increased movement of people, knowledge, goods, and money across national borders. It has led to increased interconnectedness among the worlds populations, economically, politically, socially and culturally (T. L. Friedman 6-14) . Even though globalization often is thought of in economic terms, this process has many social and political implications as well. 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