Globalization and Europe

For Czechs, nafta is what you put in your tank. For Ohioans, it's the North Atlantic Free Trade Agreement, and it's a heated topic in the state's presidential primary tomorrow. Supporters of globalization argue that Nafta and EU enlargement help "expand the zone of prosperity," while critics call free trade a step toward deindustrialization and job destruction. A new report requested by the EU Commission and paid for by AmCham EU found that Central Europe hasn't created a "giant sucking sound" by taking jobs from Western Europe. Investment into CE hasn't come at the expense of the EU-15, the report said. Furthermore, it added, CE could serve as a buffer for EU-15 companies if their exports decline as the result of a U.S. recession. Czechs will mostly like what they read in the report, but the timing suggests that the CR could again be in the middle of a big globalization fight within the EU soon.