For the U.S. to become more globally competitive and create good jobs, it must embrace and expand trade with Canada and Mexico, a new book argues.
But in a forthcoming book,, author Shannon O'Neil argues that it's a huge mistake for the United States to turn against free trade and try to go it alone in the global economy. Instead, she argues, for the nation to become more globally competitive and create good jobs, we must find a middle ground on trade, embracing Canada and Mexico and working with them to beef up regional supply chains and our collective productive capacity.
"It is easy to peg Akron as a victim of globalization," O'Neil writes. But the problem, she argues, wasn't really free trade; it was largely"the United States' limited regionalization," which damaged the economic viability of continuing to do business in Akron as the global tire market got more competitive.
In O'Neil's telling, NAFTA, while imperfect, was exactly what US manufacturing needed to continue competing on the global stage. After it passed, trade between the US, Mexico, and CanadaO'Neil uses the auto industry as one of her primary examples. She considers it one of the most regionally integrated industries in North America.
As a result of NAFTA, O'Neil says, the struggling American auto industry turned around and began booming again. Far from seeing an exodus of auto jobs, the United States saw the creation of tons of new jobs. The supply chain, diverse workforce, and access to consumers provided by the North American regional hub created an industry so vibrant that even foreign automakers, like Toyota, began outsourcing to the United States.
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