free trade agreement between China and Mauritius
With the dynamic economic environment, various countries are engaging in bilateral or multilateral trade. According to The Straight Times News, (2019, December), bilateral trade refers to the trade between two countries based on agreed terms, as evident between New Zealand and Singapore. Multilateral trade, on the other, refers to commerce between more than two states (Jim, 2015).
The overall theme of this set of articles is a free trade agreement. The authors are explaining the trade agreements that their respective countries of origin are engaging in or are pursuing to implement. For instance, countries like China, New Zealand, South Korea, and Singapore are involved in either bilateral or multilateral trade.
In the article by Peter, (2019) on a free trade agreement between China and Mauritius, the author discusses China’s first free trade agreement with an African country. He further explains that the contract covers more than forty service sectors, with Mauritius enjoying duty-free access to approximately 96% of Chinese tariff lines. Stronger business agreement between China and Mauritius was aimed at strengthening the economy of Mauritius into a developed one by this year. The article by The Straight Times, (2019, December) discusses the upgraded economic agreement between New Zealand and Singapore. In the article, the author contends that the ratification of the deal would enhance the fast clearance of some exports and modernize rules for trading goods. Citizens of the two countries will also be able to visit either of the two countries visa-free for up to three months. The pact will also make custom processes easier, thus cutting down transaction costs and time taken.
According to the article by Don, (2017), the transition of the U. S. presidency from Obama to Trump has dramatically affected international trade agreement between the U. S. and other countries in various ways. First, Trump withdrew from the Pacific free-trade agreement that the Obama administration had negotiated with nothing to replace it with. Secondly, Trump has reshaped the North American Free Trade Agreement (NAFTA) with Mexico and Canada. This has affected the nature of trade between the U.S and these Neighboring countries. Moreover, he has opted to pursue bilateral trade talks instead of multiparty deals.
Across the articles, there are various examples of bilateral and multilateral trade agreements that are evident. Bilateral trade exists between New Zealand and Singapore, as discussed in the article by (The Straits Times, 2017). It is also apparent between China and Mauritius (China Briefing, 2019). A multilateral trade agreement is evident between U. S. and six Trans-Pacific countries (Don, 2017). North American Free Trade Agreement involves countries like Canada, the United States, and European countries, thus being a multilateral trade agreement (Michael & Tamar, 2017). Moreover, the Trans-Pacific Partnership involves several countries, which include Chile, Singapore, Malaysia, Japan, Mexico, and Peru, as discussed by Jim, (2015), thus being a multilateral trade agreement.
One of the political cartoons from the packet is that of U. S. President Donald Trump being surrounded by the citizen, both the citizens and the president wearing sad faces. In this cartoon, the political cartoonist is trying to suggest how the citizens are annoyed by the decisions that the president is making towards the nation, as discussed by (Don, 2017). The president decided to withdraw his country from the Trans-Pacific Partnership against the will of the citizens. Moreover, the cartoonist tries to suggest that the president is annoyed by the way these citizens are not happy with his decision.
In the NAFTA article, the theme, “Winners, loser,” posed by the authors maybe be taken to suggest that in the North American Free Trade Agreement, there would be losers and winners. Winners are those who were lifted by the agreement, while losers are those that have been hurt by it.
Michael, E., & Tamar, H. (2017).In Georgia, NAFTA has hurt some while lifting others. The Atlanta Journal-Constitution.1-13.
The Straits Times. (2016). New Zealand, Singapore ratify upgraded economic agreement. Available at: https://www.straitstimes.com/business/economy/nz-spore-ratify-upgraded-economic-agreement.
Jim, S. (2015). Road to free trade agreement vote just keeps getting longer. Available at: https://www.starttribune.com/jim-spencer/81726757/
China Briefing. (2019). China Signs Free Trade Agreement with Mauritius. Available at: https://www.china-briefing.com/news/author/news-briefing/
Kang, Y. (2020). S. Korea vows stable trade ties with Britain. Yonhap News Agency.
Eytan, H. (2020). Israel-Panama free trade agreement enters into force. The Jerusalem Post.
Don, L. (2017). Trump moves quickly in bid to revamp America’s trade policy. Los Angeles Times.
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