About the Quebec-New York Trade Corridor
The Quebec-New York trade corridor is a vital economic link between the Canadian province of Quebec and the U.S. state of New York. This corridor facilitates the movement of goods, services, and people across the border, promoting trade and economic growth in both regions. Key components of the Quebec-New York trade corridor include: Lumber and Wood Products, Automotive Parts and Vehicles, Agricultural Products, Electronics and Technology, Tourism and Travel.
Regional Trade Corridors
The following are regional trade zones within the Custom Union that would have fiscal support and fiscal mechanisms that support competitive trade flows and competition amongst the different trade corridors within the Custom Union.
The Quebec-New York Corridor Quebec-New York Corridor would truly be the economic corridor that does not sleep. The economic integration from New York City to Montreal, trade would happen from 24 hours a day, 7 days a week. California's $4 trillion USD economic would be the only economy within the Customs Union that would rival the Quebec-New York Corridor, unless Brazil and Venezula were to establish a similar trade corridor within the Customs Union.
- Corridors
- The corridors would exist within current sovereign borders. For example, building on the example of the Quebec-New York Corridor; similar corridors could be established between the Canadian Province of Saskatchewan and the State of North Dakota.
- The Saskatchewan-North Dakota Corridor
- The Saskatchewan-North Dakota Corridor would be a competitive corridor and provide competition for the Quebec-New York Corridor. Ideally, the Quebec-New York Corridor may specialize in financial services; while the Saskatchewan-North Dakota Corridor specialize in oil and natural gas exports. There is no guarantee that one corridor will dominate one segment of the custom area. Take for example hydroquebec a Quebec based engery producer may very well dominate oil and natural gas exports out of Canada.
- The Saskatchewan-North Dakota Corridor or a potential Alberta-Montana Corridor would be of significance, because the State of North Dakota has the state owned Bank of North Dakota and the provincial owned Alberta Treasury Branches would have a competitive advantage, because these state owned institutions would be able to provide direct support to the local economies and their respective State and Provincial economies.
In the new Custom Union, the roles of the Bank of North Dakota - BND and the Alberta Treasury Branches - ATB, would resemble the role of the regional Federal Reserve Banks. BND and ATB would not replace the Federal Reserve or compete with the Federal Reserve, the role of BND and ATB would compliment trade flows and enhance trade.
The economies of North Dakota and Alberta would resemble the Panamanian economy, which has existed since 1903 without a central Bank. Panama is unique in the fact that it has used the U.S. dollar as it's offical currency alongside the balboa. The success in Panama serves as a evidence based approach to implementing a successful Customs Union in the Western Hemisphere.
The concept of the trade corridors are inline with President Trump's vision of creating new freedom cities on federal lands. These new freedom cities could create 20 new metropolitan areas and expand the U.S. economy by 10 to 15 percent. This would add approximately $3 to $7 trillion USD or more to the existing $30.6 trillion USD economy. In support of President Trump's freedom cities proposal, Edward Pinto of the American Enterprise Institute- AEI, presented a proposal titled Homesteading 2.0
A combination of modernization of the existing U.S. financial infrastructure, the unified Customs Area for the Americas, the regional trade corridors and fiscal federal reform in the U.S. has the potential of pushing the U.S. economy to $50 trillion USD by 2035.