The verdict on the North American Free Trade Agreement (NAFTA) is not yet in. Has it been a success? Most people would probably admit that the direst predictions of the critics of NAFTA (like the "giant sucking sound" in the oft-repeated statement by H. Ross Perot) have not come to pass. Neither has it been smooth sailing for the agreement's backers. The second edition of
Handbook of North American Industry (the first was published in 1998) presents narrative articles and comparative statistical data on the economies of the three member states of NAFTA: the U.S., Canada, and Mexico. Data are from a mix of private and (mostly) government sources. The editor points out that one must be careful with data, not only as to their source(s) but also in the manner of their presentation, for such errata as "sampling variability, reporting errors, incomplete coverage" may occur.
Editor Cremeans has a rich background in business and industry statistics, mostly compiled at the Department of Commerce. The much-used National Trade Data Bank, in depository libraries for use by businesspeople and students alike, was in large part designed by Cremeans. He has chosen a stable of contributors, many of whom have present or past affiliations with the Department of Commerce or other government agencies.
The book is divided into two parts: "The North American Economy," and "Industries in North America." In the first part, NAFTA is explained and reviewed in essays on the economic outlook for the three countries and on the consequences of the first five years of NAFTA. Here are summary tables that compare and contrast the member states and rank industries in those three member states on such standards as output growth, employment, and earnings. In Part II, comparison is done industry by industry at two-digit Standard Industry Classification (SIC) level. Coverage is of the major North American industries, grouped under "Agricultural, Mining, and Construction," "Manufacturing" (which includes apparel, food, equipment, and so on), and "Trade and Services," including, for example, education finance, government, health, and utilities. Text is accompanied by charts, graphs, and tables, as well as sidebars, and explanatory notes headed "What's New" in each industry. Text and statistical evidence flow together in a happy melding. New to the second edition are a trade and services overview and chapters on education and social services and government. Many librarians will be glad to know that financial ratios are among the data charted. The publisher must have felt that an overall general index would not have served its ostensible purpose, because one is not included.
Appendixes contain somewhat useful, extensive (up to six pages) discussions of the North American Industry Classification System (NAICS); the governmental structure of Canada, Mexico, and the U.S.; and the Maquiladora Program as a forerunner to NAFTA.
Greater globalization is heralded by the NAFTA agreement. All current indicators point toward further interdependence among nations. This handbook supplies considerably more data and analysis than International Trade Statistics Yearbook (United Nations 1983^-1999), while it remains neutral in the face of controversy. An excellent source, it should be in most large academic and public-library business collections, for it is easier (and faster) to use than the comparable governmental-agency-produced subscription sources STAT-USA and National Trade Data Bank, even when allowance is made for their electronic search capacities. Highly recommended.
