http://edition.cnn.com/2014/03/24/busin ... ?hpt=hp_c4
What do you guys think? I'm not really an expert on global trade.
I think it would be europeans that would mostly complain about any trade deal, mostly about our over-hormoned agriculture and GM foods, overpriced pharmaceuticals and other things.
Will there be any complications with the US Dollar and the Fed, and the ECB and the Euro? Will there be restrictions in monetary policy against the Fed? I know the ECB loves to hold back inflation at all costs, and the Fed at the moment just wants to promote growth.
Free trade zones with two major types of currency? I mean, with NAFTA, there are many currencies, but the US is the dominant economy and has the dominant currency in that type of relationship.
However... I also know that there's going to need to be some power-balancing against China in the future, if this graph is correct. And what better way to solidify NATO's military cooperation than a base of economic cooperation tying all the countries together?
Please note the GDP forecast for China, US and EU.
Also, this article if you have the time. It's three years old though. Nothing new. Your basic 'rise of Asia' stuff.
With hispanics going to comprise 25% of the US population by 2050, I can foresee the US trying to convince the other countries to let Mexico in as well. So basically we are seeing a merge of NAFTA and the EU open market, without the free movement of peoples. In the coming decades of course, not immediately.
Also note that by 2050, the destructive effects of China's One Child policy will be seen in terms of demographics. 36 years later, you will see a lot of old people being supported by young people. I'm not sure if political stability can be achieved under the Communist Party with this gargantuan strain.
Anyway, as for the Trans-atlantic Free Trade Zone: What do you think? Good idea? Bad idea? Will it actually go through? What about my prediction that if it does go through, Mexico will join as well as Canada, and NAFTA and EU would basically be merging?
Will this create a stronger West?
Edit: grammar and image link