The issue is not whether there should be an expansion of world trade. The question is how that expansion occurs.
Globalization is here to stay.
The question is whether and how it should be shaped. That involves examining the role of bilateral, regional, and multilateral agreements. That includes an examination of the increasing number of free trade agreements, as we are doing today. This is necessary before we rush to conclusions as to the interaction between bilateral, regional, and multilateral agreements, and the actual impact of any of these types of agreements on the U.S. economy. In this examination, we need to look not only at the number of agreements, but beyond sheer numbers to their contents, including the level and actual scope of trade covered by the agreements.