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Corporate control of North America: and how to bring NAFTA under popular governance.
American Prospect, The, January, 2003 by Faux, Jeff
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THE BUSINESS INTERESTS THAT PROMOTED THE North American Free Trade Agreement (NAFTA) have gotten their money's worth. Since the agreement went into effect in January 1994, American and Canadian corporations have moved production and jobs south to take advantage of cheap Mexican labor. Subsidized agribusinesses in both northern countries have blown smallscale Mexican farmers out of their local markets for corn, wheat and other commodities.
Eighty-five percent of the Mexican banking system is now foreign-owned. Mexican production, meanwhile, is moving to even lower-wage countries. ...
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