MONEY, MONEY, MONEY blah blah blah...Free Trade with the UAE Supports America's National Security Interests
by Daniella Markheim and Anthony B. Kim
WebMemo #1006
March 4, 2006 | |
The sale of port facilities to Dubai World Ports, a government-owned company in the United Arab Emirates (UAE), has sparked an outcry that now threatens America’s free trade agenda. Legitimate concern over the sale has led Congress to review the oversight of foreign direct investment in the U.S. Some in Congress, however, would move beyond that inquiry and use national security concerns as an excuse to erect barriers to trade. Their proposals include halting free trade negotiations with the UAE, requiring annual congressional certification of existing trade agreements, and subjecting major foreign investments to congressional approval.
Protectionism of this sort is no way to boost national security. In fact, it would do the opposite. Protectionism would endanger U.S. prosperity—the cornerstone of security—strain relationships with important allies in the war on terrorism, and make it more difficult to use trade as a tool to spread American values and bolster U.S. interests. A successful strategy for improving national security must include free trade and investment.
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Last week, U.S. Trade Representative (USTR) Rob Portman re-emphasized this point by warning that “canceling this port deal would be contrary” to U.S. beliefs that fighting terrorism means promoting policies that create “opportunities for people to improve their lives and the lives of their families.” The opportunity to promote economic freedom in the UAE through free markets and free trade should not be sacrificed in the current debate on the port deal.
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These results support the 9/11 Commission’s recommendation that “a comprehensive U.S. strategy to counter terrorism should include economic policies that encourage development, more open societies, and
opportunities for people to improve the lives of their families and to enhance prospects for their children’s future.”more...
http://www.heritage.org/Research/TradeandForeignAid/wm1006.cfmIsn't the UAE as rich as shit stinks?
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