For the second time in less than a year, Canada and the EU have announced that they reached agreement on the Canada – EU Trade Agreement. Back in October 2013, there was an announcement of an agreement "in principle." The announcement did not include a release of the text and the parties said there was still further work to be done on drafting and legal analysis. Tuesday brought another announcement of an agreement on the text.
In my many years documenting and critiquing the overblown claims of free trade proponents about the supposedly self-regulating, efficiency-promoting, mutually benefiting effects of globalization, I've encountered some real doozies. (My PhD dissertation consisted of a critique of the theoretical and empirical basis of neoclassical CGE trade models, and the construction of quantitative models based on alternative theoretical foundations; I've never been able to lock up that nerdy side of my personality ever since!) The more troubled the global economy becomes, despite (or because of) decades of free trade medicine, the more rose-coloured are the predictions of the gains expected from the next free trade deal. The promised gains from trade are always just aroun
Recent incidents of Canadians losing jobs to temporary foreign workers have panicked Conservative Minister Jason Kenney into imposing a moratorium on the use of these workers by the restaurant industry.
Importing low-wage labour works against Canadians looking for a raise. However, Canadians looking for a job are also hurt by recent trends in foreign trade. An outflow of spending from Canada indicates weakness in the ability of the economy to generate jobs.