Paid for by NDN.
Senate passes Peru FTA; new economic strategy for all Americans needed
by Maggie Barker
December 5, 2007
Yesterday, the Senate passed the U.S.-Peru Free Trade, with a majority of Democratic Senators voting in favor. This agreement will likely be signed into law into the coming weeks. NDN applauds Congressional approval of the FTA, as it signifies the United States' commitment to economic and diplomatic cooperation with our Latin American neighbors.
However, NDN has been arguing for several years that progress on trade liberalization should be conditioned on adopting a new economic strategy here at home that makes globalization work for all Americans. Our recent national poll supports this argument: Americans are losing faith that the global economy is improving their and their families’ economic well-being. Indeed, the economic data indicate that median household income has actually fallen during the Bush era. There is clear concern about the government’s response to Americans’ daily struggles, and the significant lack of government response further weakens support at home for trade liberalization across the world.
NDN's Globalization Initiative is committed to understanding the impact of globalization on the U.S. economy. In Rob Shapiro's recent paper, The New Landscape of Globalization, he finds that while globalization has strengthened the U.S. economy by promoting growth and productivity, prosperity eludes many Americans. As such, NDN offers a new economic strategy that modernizes our health care and energy policies; invests in workers, students, and infrastructure; and fosters innovation and its adoption across the economy. We think adopting this new economic strategy is ever more imperative, as the economy slows, economic anxiety increases, and three more free trade agreements await Congressional approval. For more information on NDN's Globalization Initiative, please visit our website, check out our blog, or contact me mbarker@ndn.org or 202-384-1213.
