FTA (Free Trade Agreement)
Well you might be wonder, why is this post doing in the CF blog, I can tell you it is because WE NEED TO KNOW. It’s our country and it’s the role for us to know what is happening in the real world. When people ask about such issue, we Christian will know what is going on outside! We have been living in our own world mini world of ideal. We are living in the world but not of the world remember??
In recent month or may be years, there was an unspoken topic about FTA (Free Trade Agreement) between the US and Malaysia. What is the FTA means? Free trade is a system in which the trade of goods and services between or within countries flows unhindered by government-imposed restrictions.
Free trade is a term in economics and government that includes:
In recent month or may be years, there was an unspoken topic about FTA (Free Trade Agreement) between the US and Malaysia. What is the FTA means? Free trade is a system in which the trade of goods and services between or within countries flows unhindered by government-imposed restrictions.
Free trade is a term in economics and government that includes:
- Trade of goods without taxes (including tariffs) or other trade barriers (e.g., quotas on imports or subsidies for producers)
- Trade in services without taxes or other trade barriers
- The absence of trade-distorting policies (such as taxes, subsidies, regulations or laws) that give some firms, households or factors of production an advantage over others
- Free access to markets
- Free access to market information
- Inability of firms to distort markets through government-imposed monopoly or oligopoly power
- The free movement of labour between and within countries
- The free movement of capital between and within countries
In other words, Malaysian farmers have to compete with GM food (Genetic Mutated food) from the US which is better. That will put these farmers out of business! Thus, they can’t even keep up with the imported rice from Thailand which is cheap and good!
What about the country laws are bound to this Trade Agreement. Which mean it’s not free to create its law! Just like the World Bank want people to borrow money from them so that they can get a hold on their economy!Our oil reserves will not be ours as the US are able to buy it without tax! in other words we cant tax them!!
on another hand this will change the whole structure of Malaysia economy, look at Proton, they might end up making batter quality cars to rival with those of Ford and GM cars... Not just this, it might just give Malaysia the push to change the 3rd world mentality that we all have into a country that has the ability to rival the US!
this above are my 2cents. not oppose it entirely but hope it will be a change for the better!! Well I leave this issue for you readers to think as it may be an eye opener!
Lately the Malaysian government are resuming FTA talks with the US to go on with the plan to agree with the FTA in Malaysia and US. At lease you know!
Do Pray for our country!!
Some online resources:
http://www.ftamalaysia.org/index.php
Why America Needs to Support Free Trade
Trade Agreements: A Pro/Con Analysis of Including Core Labour Standards
Free trade, the new con trick
Lesson in FT in Singapore and Chile
http://en.wikipedia.org/wiki/Free_trade
http://en.wikipedia.org/wiki/Free_trade_debate
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