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central america With all the economic growth of Latin American and the Caribbean, Central America is trying to increase its own growth and develop a stronger standing among their neighboring regions. Total U.S. merchandise trade with Central America grew at a rate of 15 percent, from $11.9 billion in 1994 to $13.7 billion in 1995. Within Latin America and the Caribbean, Central America's trade is comparable to the Caribbean but has slightly lagged behind for several years. However, if current trends continue Central America will surpass U.S./Caribbean trade within two to three years. Central America's strong trade growth is the result of increases in both imports and exports. But more so the growth is attributable to sturdy increases in U.S. consumption of products from this region. While America has been largely a free-trade nation, the principles and the proponents of free trade today are under siege. Those who advocate free trade argue it creates jobs, promotes economic growth, and maximizes efficiency and individual wealth. They feel that individuals should be able to enjoy the right to buy lawful products. Free trade promotes economic growth and creates jobs. Almost all economists argue that free trade increases competition, spurs innovation, lowers prices, accelerates economic growth, and on balance creates more jobs. |
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