!! History Commons Alert, Exciting News

Context of 'After January 1, 1994: Subsidized Corn From US Floods Mexican Markets'

This is a scalable context timeline. It contains events related to the event After January 1, 1994: Subsidized Corn From US Floods Mexican Markets. You can narrow or broaden the context of this timeline by adjusting the zoom level. The lower the scale, the more relevant the items on average will be, while the higher the scale, the less relevant the items, on average, will be.

In preparation for the North American Free Trade Agreement (NAFTA), Mexico opens up its financial services to foreign ownership. By 2000, 85 percent of the banking system will be owned by foreign entities and lending to Mexican businesses will have dropped from 10 percent of the GDP to 0.3 percent. [Jones, 3/2007, pp. 3]

Entity Tags: Mexico

Timeline Tags: Neoliberalism and Globalization

The North American Free Trade Agreement Implementation Act (H.R. 3450) is voted on by the US House of Representatives and passes 234-200. [US Congress, 11/17/1993] It is later estimated that Congresspersons who voted in favor of H.R. 3450 received an average of $8,018 more in corporate PAC contributions than those who voted against. [Francia, 1/2001, pp. 98, 103]

Entity Tags: North American Free Trade Agreement, US Congress

Timeline Tags: Neoliberalism and Globalization

US President Bill Clinton signs the North American Free Trade Agreement (NAFTA), which he says will “tear down trade barriers between” the US, Canada, and Mexico. [US President, 12/8/1993]

Entity Tags: William Jefferson (“Bill”) Clinton, North American Free Trade Agreement

Timeline Tags: Neoliberalism and Globalization

Under NAFTA, Mexico reduces its protection of domestic corn growers. This leads to a massive influx of corn from the US, where its production is heavily subsidized. This has the effect of reducing the price of corn in Mexico by 70 percent and ruining the livelihoods of some 15 million Mexican farmers who depend on the crop for income. [Fanjul and Fraser, 8/2003, pp. 23 pdf file]

Entity Tags: North American Free Trade Agreement

Timeline Tags: Neoliberalism and Globalization

Ordering 

Time period


Email Updates

Receive weekly email updates summarizing what contributors have added to the History Commons database

 
Donate

Developing and maintaining this site is very labor intensive. If you find it useful, please give us a hand and donate what you can.
Donate Now

Volunteer

If you would like to help us with this effort, please contact us. We need help with programming (Java, JDO, mysql, and xml), design, networking, and publicity. If you want to contribute information to this site, click the register link at the top of the page, and start contributing.
Contact Us

Creative Commons License Except where otherwise noted, the textual content of each timeline is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike