By Pedro Aspe, William F. Weld John P. Manley
Within the 11 years because the North American loose exchange contract (NAFTA) took influence, the continent has gone through significant variations: fiscal and social integration has speeded up, due largely to NAFTA, and 9-11 uncovered the vulnerabilities of integration. All this happened within the absence of recent modes of governance or collaboration, making defense and integration extra very important but in addition extra tenuous. Tri-national collaboration is key to make sure nearby prosperity and protection. during this vital file, a uncommon staff of Canadian, Mexican, and American specialists discover key matters that require extra cooperation at the continent--including economics, regulatory coverage, safeguard, the constructing hole, and tri-national institutions--and deals a imaginative and prescient for the connection one of the 3 international locations for the following ten years. The document recommends a unmarried monetary area that expands fiscal chance for every person within the area, and the institution of a safety sector that protects the sector from exterior threats whereas facilitating the valid passage of products, humans, and capital. Containing French, Spanish, and English texts in one quantity, making a North American neighborhood is a vital consultant to attainable futures for Canada, Mexico, and the U.S..
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Additional resources for Building a North American Community. Report of an Independent Task Force
Implement the Social Security Totalization Agreement negotiated between the United States and Mexico. This agreement would recognize payroll contributions to each other’s systems, thus preventing double taxation. ’’ Canada, the United States, and Mexico should agree on streamlined immigration and labor mobility rules that enable citizens of all three countries to work elsewhere in North America with far fewer restrictions than immigrants from other countries. This new system should be both broader and simpler than the current system of NAFTA visas.
An annual summit of North American leaders would do more to carry out our overall goal of creating a North American community than virtually any of the report’s other recommendations. As we have seen with the annual Group of Seven/Eight (G-7/8) and Asia-Pacific Economic Cooperation (APEC) summits, regular meetings of leaders not only help promote a sense of community and shared objectives, but channel the various bureaucracies each year to work on those common objectives. Whether on matters of security, education, or economic integration and development, annual summits will drive a process that will hasten the goals that we outline in our report.
Rules that fragment the North American market reduce economies of scale and discourage specialization, competition, and innovation. Harmonization of regulation, in effect, creates a bigger market, one that would lead to more competitive exports and lower consumer prices across North America. In addition to raising compliance costs for businesses and their customers, fragmented regulation increases the administrative costs to governments and taxpayers. Regulators in Canada and Mexico each must try to achieve the same results as their counterparts in the United States and yet must do so with only a fraction of the resources.