| Sumario: | Critics of the North American Free Trade Agreement (NAFTA) are incorrect in their assertions about the impact and implications of U.S. policy toward Mexico. The charges against NAFTA include concerns about the loss of American jobs abroad, the undoing of the economic progress made by Mexico between 1988 and 1993, and increased drugs trafficking. The peso crisis has also been characterized as proof of the failure of the U.S. policy of economic engagement. NAFTA reaffirmed American commitment to Mexico's economic progress and assured Mexican businesses and investors that they would not be bankrupted by an abrupt wave of U.S. protectionism. It also made it more likely that future Mexican governments will go on taking apart the structures of government control and influence that have weighed down Mexican growth. More important, NAFTA has increased the chances that foreign investors will regard Mexico as a country committed to progrowth policies.
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