Here's a look at recent economic headlines in the news.
America’s economic relationships across borders have been one of the central themes in this year’s election. In fact, it may be the dominant economic theme.
Two articles this week in the Dallas Morning News highlight why it is important to cultivate and maintain those relationships. The first one appeared Monday in The News’ business section. Among other things, the piece by reporter Jill Cowan shows how the making of automobiles occurs seamlessly across the Texas/Mexico border.
Officials in Bexar County, which centers on San Antonio, even have dubbed the work that goes on between their part of the state and northern Mexico the Texas-Mexico Automotive Supercluster. Admittedly, that’s a mouthful, but the region does allow both sides of the border to share in the manufacturing of various parts.
The piece is worth reading as well for its data points, including that 29 auto assembly plants are located across this binational region. The report also underscores that trying to restrict the flow of goods across our borders would be both difficult to achieve and economically costly.
The second piece came a few days later, when The News editorialized about the dangers of the protectionist mindset. The editorial warned against ditching NAFTA and the Trans-Pacific Partnership, and the harm those moves would have on the U.S. Economy. As The News wrote, “Global economies prosper from trade and technological innovations.”
Both pieces are worth the quick read. And their points are worth recalling as America’s economic relationships are questioned during the rest of the campaign. We indeed need to care for individuals and communities adversely affected by trading agreements. But we disrupt those relationships at our peril.
