With the recent Suez Canal blockage and after experiencing the COVID-19 global pandemic, the fragility of international trade and the global supply chain is being exposed. While international trade is good, is it time for America to have a backup plan for more uncertainties that certainly lie ahead to bolster its economy?
A solution could be to rely on what we have here on this side of the world. The United States currently has 14 trade agreements with 20 countries, but only 12 of those 20 countries are in the Americas. Why not expand that number?
The total population of the Americas is over 1 billion people, and its current total GDP equates to roughly $25.67 trillion — 32% of the world’s GDP. In the New World, there are only four main languages spoken (English, Spanish, Portuguese and French). Three of these languages are Latin-based, and the English vocabulary derives over 80% of its words from Latin. Another advantage the Americas has is its religion — both North and South America are predominantly Christian. The biggest advantages in the Americas are our location in the world, which makes establishing trade routes easy, and our rich resources.
What would the world be like if all the countries in North and South America entered into a comprehensive free trade agreement? We could start investing in our neighbors’ infrastructure and higher education systems in order to help economically strengthen our two continents. There is definitely room for economic progress here, and we could feel safer having a more stable supply chain closer to home.
The people living in the Americas have more in common than anywhere else in the world. It’s time to connect the land we live on, strengthen our economies, and prepare for stability.
Miles Nielsen
Kansas City, Missouri
from Deseret News https://ift.tt/3cyYAcq
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