Trade bloc

The European Union (EU) and North American Free Trade Agreement (NAFTA) both consists of twenty-seven countries that makes it the largest trading bloc in the world. Based on the 2008 figure, the value of the exports of goods/services from European Union to NAFTA was 639. One billion Canadian dollars while the import of goods/services to the European Union from the NAFTA was amounted to 513.9 billion Canadian dollars. Two trade blocs are also highly interdependent by the means of FDI. In 2007, the

The European Union (EU) vs the North American Free Trade Agreement Introduction The European Union (EU) is the organization which integrates the countries listed below, both politically and economically. It is a customs union, which is an agreement amongst a group of countries to eliminate trade barriers between them on the movement of goods, services, labor and capital, and also to establish a common external tariff on goods and services coming into the union. The EU evolved from the European

European Single Act that formed the EU, which is made up of 27 countries. There is nothing to gain for both the blocs. However in some areas, “peaceful co-existence” and some form of “stricter ties” between the EU and NAFTA would prove to be beneficial for both. Introduction The NAFTA and the European Union comprising of 27 countries comprise the biggest blocs in the world. The two trade blocs are also highly interdependent through foreign direct investment. In 2007,

There are many major drivers for globalization. There are two factors that seem to drive the trend toward greater globalization. The first factor is the decline in international trade barriers that has occurred since the end of World War II. Once the barriers were removed then international trade had a chance to grow and change the economy to a more global one. Tariffs were fees charged on top off the cost of imported goods. The hope was to deter people from choosing the imports, instead

Since the World War II, the creation of regional economic blocs has become an essential political remedy that gathers countries and nations rather than divide. Essentially, the creation of the economic regional blocs aims to minimize the obstacles between nations that share the same geographic border and to facilitate the circulations of goods and services. In fact, the regional trading blocs differ in terms of political structure and economic objectives, but the rapidity of trading goods and services

Foreign Direct Investment is the direct investment in new facilities or companies to expand a business in a new country. In evaluating and analyzing East Asia, it is important to focus on cultural issues as they are major indicators of the business environment and implementation in a given local. East Asia, including China, only began opening up for foreign investment in the 1970s. Japan is considered a developing market, where the rest of Eastern Asia is an emerging market, the majority of FDI around

reduction or elimination of trade barriers and the coordination of monetary and fiscal policies. The main objective of economic integration is

that illustrates the fields of cooperation in detail. The number of regional trade agreements has increased over the last two decades. This co-operation usually begins with economic integration and as it continues it also embrace political integration. Economic integration is the merger of economic policies between different states through either the partial or full eradication of tariff and non-tariff barriers on trade taking place among them before their integration. This in result leads to lower

The European Union is known as a economic and political union that has 28 member states around the continent .The EU was established in the aftermath of World War 2. The idea behind the eu was that countries that trade with each other become economically interdependent and are less likely to get into conflict. What stared off as a purely economic union advanced into an organization covering policy areas, from climate, environment and health to external relations and security, justice and migration

Trade agreements facilitate the free exchange of goods and services between nation-states, and contribute to varying degrees to complete economic integration between two or more states. Autarky refers to a non-trading status, a phenomenon rarely seen in today’s increasingly integrated globe. The steps taken to fully integrate are referred to as stages, a categorization that makes evident the variability in degree of integration. At the first stage, a preferential trade area can be set up as a less