Post-NAFTA North America: Economic and Political Governance by I. Morales

Post-NAFTA North America: Economic and Political Governance by I. Morales

By I. Morales

Post-NAFTA North the USA uniquely combines an institutional exam of NAFTA with a geo-economic and geo-political procedure. the writer argues that during the post-9/11 period, North the US is evolving from a basically fiscal house to a strategic 'securitized' one and that NAFTA has been used by the USA as a regulatory framework for facing the pressures of globalization that experience emerged within the post-Cold warfare period.

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Though this practice has not yet fully developed, Strange was elaborating on some post-realist and international political economy debates arguing that states were no longer the sole unit of analysis in contemporary international relations. Currently, a new wave of studies has problematized the rise of globalization from the standpoint of the new corporate strategies pursued by MNCs in terms of production and exchange during the past decades. According to thorough analyses done and released by United Nations Conference on Trade and Development (UNCTAD)’s Division on Transnational Corporations and Investment during the past 15 years, today’s globalization cannot be solely understood as the exacerbation of economic interdependence led by an accelerated increase in transnational trade and investment flows.

Linkages and the distribution of attributions and capabilities are mainly done through the codification and enactment of rules, treaties and organizations, in which the degree of compliance is flexible and variable. Common norms, shared values and principles, as well as the knowledge and information that support them are also crucial in these emerging architectures of cross-border governance. The emergence of a multi-layered governance architecture has certainly challenged the traditional notion of territorial-based state sovereignty, but it does not mean the end of the state and its authority.

US hegemony became the guarantee for the West and US allies of their security and of the geopolitical equilibrium vis-à-vis the Soviet bloc. At the same time, Challenges for US Economic Leadership 19 the Bretton Woods institutions, under the mechanisms of the GATT, negotiated the progressive opening of manufacturing trade among the market economies. This opening was possible under US leadership, since the US economy was not destroyed during the war and stood as the most competitive and diversified at the time.

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