Latin Americans Wonder if Democrats Are Traders

In an effort to keep good jobs in the US, Democrats in US Congress may push to change trade policy with the Americas. But that could result in job loss in countries like Colombia and Peru. Labor activists of both continents claim that many of these jobs are exploitative, but even so, the loss of steady work could result in economic instability, a spike in the illegal drug trade, as well as a decrease in political moderation as expressed presidents Alan Garcia and Alvaro Uribe of Peru and Colombia, respectively, who reject the polemic rhetoric of Venezuela’s Hugo Chavez. Since 2000, the US suffered the loss of 3 million manufacturing jobs and declining average wages in many sectors. Uncertainty over trade relationships with Colombia and Peru could hamper foreign investment in Latin America. “Investors don’t risk making investments knowing that market access is not guaranteed,” says Uribe. Such uncertainty has cut 7,000 jobs in Colombia over the past four months. The new power brokers in US Congress may have to decide which is more dangerous – job loss within its own borders or those of friendly neighbors. –YaleGlobal