One could almost hear the collective sigh of relief when news emerged yesterday of a tentative NAFTA deal between the U.S., Mexico and Canada.  Technically, Donald Trump wants it renamed to the “United States-Mexico-Canada Agreement – or USMC.”   Credit must be given to the negotiators from all three nations who were at it for a year despite obvious hurdles. While citizens, pundits, economists and journalists work diligently to dissect the deal, it is essential to keep in mind that it is taking place in a larger global trading arena that’s in the early stages of transformation.  While the American president seeks to fundamentally alter the world’s trade balance in his favour, other economic players are increasingly cooperating in a fashion that seeks to circumvent…