The world is moving swiftly toward three trading blocs distinguished by the dollar, the mark, and the yen. Analysts describe the formation of a free-trade zone around the dollar as a practice run for turning the North and South Americas into a patchwork of a unified regional trade group. Hence, there is no wonder why many consider the North American Free Trade Agreement the first step toward One America.
In 1990 President George Bush identified a free-trade zone, tying all the nations of the Americas into one America, as one of the ultimate goals of his trade policy by the Americas. Its proponents argued that free trade throughout the Americas would channel investment and …