A few days ago, the world was informed on the United Kingdom's decision to leave the European Union. As someone who originally saw American advantage in this decision, a friend of mine opened my mind to the very likely reality of what could occur. There are two pieces to this article that need to be broken down and that is #Brexit itself and the North American Free Trade Agreement(NAFTA). There's a deadly mix of correlation which is working to potentially harm America.
With the United Kingdom leaving the European Union, the DOWJ took a sharp decrease. If the United States can manage to enter trade with the UK, they can manage to regain what was lossed and even increase in the long run. A couple of problems though, other counties could potentially follow UK in leaving the EU, countries with production economy. Now, ever since Bill Clinton's enactment of NAFTA in 1994, production economy in America has almost declined to nothing. True, NAFTA did lower the standard of living but it also increased unemployment which could go to paying those to survive in a higher standard of living. Since NAFTA, American businesses have taken much advantage in outsourcing their production to foreign counties. Anything for the extra dollar right? So if countries such as China, who are currently struggling economically bounce out of the EU and get a large trading partner such as the UK, they will take advantage in that opportunity and vice versa when the UK takes interest in China's large production economy.
Solving this only starts with the abolishment of NAFTA to regain our production economy. Sure businesses won't be happy but the generality of the nation will be aided in the long run. Though I believe the supporters will manipulate the standard of living fact to keep loyalty. Yes, it looks scary alone but when the other facts fall in place, it will eventually make sense. American businesses are a major part to the nation but when policies such as NAFTA begin favoring a business so much that it begins holding a nation back, I believe it is there we draw the line.