Final Word from Monday, March 3, 2008



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.[Czech Republic Europe Union North Atlantic Free Trade Agreement American Chamber of Commerce]

Glossary of difficult words

nafta - diesel fuel (in Czech);

tank - fuel tank;

Ohioan - resident of the state of Ohio;

Nafta - a free-trade agreement among Canada, Mexico and the United States which took effect on Jan. 1, 1994;

deindustrialization - a decline in industrial activity in a region or economy;

AmCham EU - the American Chamber of Commerce to the European Union;

giant sucking sound - a phrase used by opponents of Nafta to suggest that U.S. jobs would be "sucked away" to Mexico;

EU-15 - the 15 members of the EU before enlargement;

buffer - cushion, shield.

Contact

Tel: 420 224 221 580
E-mail: info@fleet.cz

Published by

E.S. Best s.r.o.
Ovenecká 78/33
170 00 Prague 7
Czech Republic

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