British Journal of Canadian Studies

The Free Trade Area of the Americas: American-Domainated Trade, American-Dominated Finance?

British Journal of Canadian Studies (2005), 18, (1), 53–69.

Abstract

Before being overtaken by events of 11 September 2001, the topic of the Free Trade Area of the Americas occupied much attention in the US and Canada. The subject was approached as primarily a trade barrier agenda. However we here argue that globalisation and open markets have also been facilitated by issues of currency exchange rates and the fight against inflation. This, in turn, forces considering of the enduring hegemonic status of the US dollar as world numeraire. Floating exchange rates arrived when, in 1971, US President Richard Nixon unilaterally closed the Gold window at the Fed. This effectively ended the postwar Bretton Woods system of the dollar–gold relationship. That action also gave rise to the raging inflation of the 1970s. As inflation has been a problem for economic alignment, we need to look closely at how matters financial – as well as those of trade – affect prospects for the Free Trade Area of the Americas.

Access Token
£25.00
If you have private access to this content, please log in with your username and password here

 Google Scholar

Drache, Daniel, London Journal of Canadian Studies, 14 (1998) . Google Scholar

 Google Scholar

Hallsworth, A.G., (1992) 'From Arcadia to Cascadia– A Road to Disenchantment', London Journal of Canadian Studies, 10 (1994), 5. From Arcadia to Cascadia– A Road to Disenchantment London Journal of Canadian Studies 10 5 Google Scholar

Hallsworth, A.G. and Jocelyn Letourneau, 'The migrant economy in Canada and Britain', British Journal of Canadian Studies, 12:1 (1997), 92–111. The migrant economy in Canada and Britain British Journal of Canadian Studies 12 92 111 Google Scholar

 Google Scholar

Letourneau, J. (1994) 'The migrant economy and the future of Canada', London Journal of Canadian Studies, 10 (1994), 62–77. The migrant economy and the future of Canada London Journal of Canadian Studies 10 62 77 Google Scholar

Lewington, T., Finance versus Fordist capital, unpublished PhD thesis, Syracuse University, New York, 1995. Google Scholar

Peck, J., Workfare States (New York: Guilford, 2000). Workfare States Google Scholar

Thompson, E.P., Zero Option (London: Merlin Press, 1985). Google Scholar

Rooth, T., London Journal of Canadian Studies, 14 (1998). Google Scholar

Wilkinson, B., 'The NAFTA, Manifest Destiny and All That', London Journal of Canadian Studies, 10 (1994), 62–77. The NAFTA, Manifest Destiny and All That London Journal of Canadian Studies 10 62 77 Google Scholar

If you have private access to this content, please log in with your username and password here

Details

Author details

Hallsworth, Alan

Lewington, Tim