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  • Free Trade Fact of the Day

    Worried about a “rising tide of protectionist sentiment” the Partnership for New York City released a report on the benefits of direct foreign investment in New York City:

    The report estimated that businesses in the city that were controlled from abroad accounted for about $58 billion of the city’s total economic output of $570 billion in 2006. Those enterprises employed nearly 200,000 workers, or more than 5 percent of the city’s total employment, the report said.

    Mitchell L. Moss, a professor of urban policy and planning at New York University, said the city “depends on the free flow of people, ideas, goods and money.” Referring to Barack Obama’s statements that he might support opting out of the North American Free Trade Agreement under certain circumstances, Mr. Moss added, “Any effort to impose protectionism hurts us.”

    Posted in International [slideshow_deploy]

    One Response to Free Trade Fact of the Day

    1. Darvin Dowdy says:

      “depends on the free flow of people, ideas, goods and money.”

      What does Mr. Moss mean by "free flow"? No borders. Or, more precisely, the concept of sovereign borders and strictly enforced immigration law is passe'. Obsolete. Antiquated. Slows things down too much. In order to benefit from global free trade we must no longer be nation oriented but instead open ourselves up completely to the world community. Couple ourselves to their economies.

      Fact is these foreign companies are siphoning off huge money from our economy. Which is ok, but we owe them zero gratitude for that. I doubt if their nation will allow U.S. companies to operate so freely within its economy. And they should be required to do so.

      And, Mr. Moss, how's our U.S. trade deficit looking? I think its on a steady rise isnt' it? Over -$60 billion this past April. And climbing.

      There are a hand full of business', politicians and municipalities making huge money while our Nation, as a whole, is being slowly bled out. Hence dissipating the Middle Class. Darvin Dowdy

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