Understanding the Economic Implications & Constraints of U.S. Multilateral & Bilateral Free Trade Agreements by Analyzing NAFTA and the U.S.-Colombian FTA

  • Fabiani A Duarte Student
  • Fabiani A Duarte Student

Abstract

By providing over $24 billion in foreign assistance to 154 countries, the United States was the largest economic and humanitarian aid donor in the world in 2008 (Schaefer, 2006; Tarnoff & Lawson, 2009). By viewing the U.S. government through this lens, U.S. free trade agreements (FTA), like U.S. foreign aid, assist economically-weaker countries to develop while advancing specific U.S. foreign policy initiatives. By analyzing NAFTA’s effects on Mexico’s economic growth and the provisions of the signed U.S.-Colombian Free Trade Agreement, this paper demonstrates the inefficiencies and unintended consequences of multilateral and bilateral FTAs. The analysis concludes by suggesting an alternative approach to proactive and productive economic development: regional economic FTAs.

Keywords: free trade agreement (FTA), tariff, economic development program, foreign direct investment (FDI), internally displaced persons (IDPs), bilateral FTA, multilateral FTA, regional FTA

Author Biographies

Fabiani A Duarte, Student
Fabiani Alberto Duarte was born in Huntsville, Alabama in 1988. As the son of Colombian-American immigrants, Fabiani learned about the concept of cultural diplomacy as a lifelong mission that brings people together through diversity that celebrates common humanity rather than division and insularity. Through his self-created major - Global Communications & Politics - that combines Spanish, French, Italian, Political Science, and Communication Studies, Fabiani seeks to pursue a career in international diplomacy and foreign affairs. After he graduates from Vanderbilt, Fabiani is poised to join the Peace Corps, Americorps, and eventually attend law school. Fabiani was elected Vanderbilt's Most Outstanding Senior for 2009-2010 and has served in numerous leadership capacities on campus ranging from student government to being a head resident to being a VUcept first-year mentor. He seeks to transfer his campus leadership to the global political arena and work in community development.
Fabiani A Duarte, Student
Fabiani Alberto Duarte was born in Huntsville, Alabama in 1988. As the son of Colombian-American immigrants, Fabiani learned about the concept of cultural diplomacy as a lifelong mission that brings people together through diversity that celebrates common humanity rather than division and insularity. Through his self-created major - Global Communications & Politics - that combines Spanish, French, Italian, Political Science, and Communication Studies, Fabiani seeks to pursue a career in international diplomacy and foreign affairs. After he graduates from Vanderbilt, Fabiani is poised to join the Peace Corps, Americorps, and eventually attend law school. Fabiani was elected Vanderbilt's Most Outstanding Senior for 2009-2010 and has served in numerous leadership capacities on campus ranging from student government to being a head resident to being a VUcept first-year mentor. He seeks to transfer his campus leadership to the global political arena and work in community development.
Published
05-20-2010
How to Cite
DUARTE, Fabiani A; DUARTE, Fabiani A. Understanding the Economic Implications & Constraints of U.S. Multilateral & Bilateral Free Trade Agreements by Analyzing NAFTA and the U.S.-Colombian FTA. Vanderbilt Undergraduate Research Journal, [S.l.], v. 6, may 2010. ISSN 1555-788X. Available at: <http://ejournals.library.vanderbilt.edu/index.php/vurj/article/view/2911>. Date accessed: 22 nov. 2017. doi: https://doi.org/10.15695/vurj.v6i0.2911.
Section
Humanities and Social Sciences

Keywords

Colombian Free Trade Agreement