Posted on 10/22/2006 7:42:04 PM PDT by Kitten Festival
Free Trade: If there was ever a referendum the whole world could celebrate, it might be Panama's huge canal expansion, expected to pass on Sunday. From Boston to Singapore, rarely have so many stood to gain so much.
When Panama's 1.7 million voters hit the "yes" button for the $5.3 billion canal expansion, they'll put their fingers on a pivotal point that changes the course of history.
President Martin Torrijos called the canal's biggest upgrade since its 1914 completion "vital" to his nation and energetically persuaded his cost-conscious countrymen to approve it. ....
Panamanians were skeptical at first, but now 70% appear to be in favor. Their "yes" will mean $4.25 billion a year in income and 47,000 new jobs. But the benefits won't stop there. They'll pinwheel as far as Singapore, Boston, Houston, Miami, Buenos Aires, Newark, Sao Paulo and beyond.
"The Panama Canal expansion is important not just for Panama but for the entire (maritime) industry — for the global economy," George Yeo, foreign minister of Singapore, said on a recent visit.
"An affirmative expansion referendum vote would mean more cargo via the all-water route, substantial operating cost savings for vessel operators, and lower transportation costs for importers and exporters," added Lisa Langone, spokeswoman for the Massachusetts Port Authority in Boston.
In New York, sentiment was the same. "Panama's already been good for us," said Steve Coleman, spokesman for the Port Authority of New York and New Jersey. "Overall capacity is rising 10% a year and a big reason is the Panama (and Suez) canals. If the canal expands, we expect to sustain or exceed that 10% growth."
Bigger ships bouncing like toys through the locks ... of the canal route will lower shipping costs ... Net impact: still cheaper prices at Wal-Mart and Target.
(Excerpt) Read more at investors.com ...
Will the Chicoms be building the expansion?
["Free Trade...?]
Well, let me explain.
Free Trade was never meant to be about "Jobs..Jobs...Jobs."
Rather, Free Trade is about allowing the consumer to buy high quality products at the cheapest price.
They have plenty of $US to pay for it.
Yes, but that means they have more purchasing power left over for other things, many of which will be domestic goods or services, and that most certainly does lead to more Jobs, Jobs, Jobs.
Government intervention in the marketplace, on balance, is ALWAYS bad. This certainly includes tariffs and other "Fair Trade" snake oil.
Unfortunately about 50% of FReepers are economically retarded Buchananites who would be happy to cut off their noses to spite their faces.
-ccm
Well said, CCMay.
You get it.
This is a joyful day for all of us - free trade will accelerate with this great move by this tiny state with a unique geography that decided to defy it for the benefit of all of us, fulfilling Christopher Colombus's dream of uniting east and west.
This is truly a thing of beauty.
VIVA PANAMA!!!
Guess what, Ljub! If you have free trade and cheap goods, you MIRACULOUSLY get a lot of jobs out of it. Funny how that happens that way, but it does.
This Panama referendum was your ship coming in. And mine. And everyone else's. This is a great day for global prosperity.
I mean...how many emergencies do we have now that the guy created, all by himself...?
I agree. That's why I'm glad no one asked Carter his opinion on this. it's none of his business now. I would die if I had to hear him bloviate on this. This is a great day for Panama and global free trade.
Rejoice! Your Walmart bill just got smaller!
And an increasing standard of living for everyone, producer and consumer.
Funny, how this miracle ALWAYS happens.
["Guess what, Ljub! If you have free trade...[good] jobs out of it."]
Yes, I know. That's the indirect result of Free Trade.
LIBO
Viva Panama!!!!
The guy should be interviewed all right about this stuff, from a prosecutor's box on the witness stand.
Well, there is proper place for everything, including government [controlled] sector. One could argue that with the world as it exists now, for example the military-industrial complex, even if not nationalized, ought to be kept within domestic borders, and with the domestic [and not Dubai or Chinese] ownership. Similar argument could be reasonably advanced concerning strategic infrastructure. The proper question is where to draw a line, not on whether to draw it - and reasonable people could disagree on that without being labeled "economically retarded", for it is not an exclusively economical question.
I did some looking up, ironic that the current president is the son of Jimmah's favorite Panamanian.
He's a good guy. I met his people when I was in Panama, they took me dancing and talked politics with me. The year was 2000 and the first thing they wanted to warn me about was a little-known tinpot dictator right across the water. They pointed in the direction of Venezuela and said the tinpot in charge there was going to bring a lot of trouble.
They are good guys - they knew the deal early about Hugo Chavez, earlier than even I did.
Yeah!!! In Panama they barbecue fish!
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