Question

Discuss 3 specific conclusions you can make about Trade Blocs.

Answer 1

Regional economic integration systems have undergone significant development designed to achieve various economic, social and political purposes. Most of the world's countries are members of one or more trade blocs called the National Integration Agreement / Arrangement (RIA). There has been a global trend towards the formation of new regional structures and reinforcement of existing ones. Inspired by the European Economic Country (EEC), now more popularly known as the European Union (EU), the developing countries have developed several regional integration schemes, particularly in Latin America and Africa

A trade barrier is a common term that explains any policy or instruction on the regime which restricts international trade. It can take many forms, including: import duties, import licenses, export licences, import quotas, tariffs, subsidies, non-tariff trade barriers, needs of local substances. Some barriers to trade operate on the similar principle, i.e. the duty of some sort of cost to trade that raises the price of the traded goods. Certain barriers to trade include differing cultures, customs, community, rules, language, and exchange.

Political Principle: State should be secure in providing definite democracy, law decree, human rights and minority respect and protection. Financial Principle: The member country needs the sustainability of a working market economy, as well as the ability to deal with aggressive force and market forces within the Union. Institutional Principle: The country should be capable of assuming the compulsions of association which include the objectives of political, cultural and economic union

U.S. economic reform will yield major milestones. The EU and NAFTA will be able to present a wide and open market for the US trading bloc member states in all twenty-five countries to socialize freely. US exporters will be enjoying lower tariff rates among the new Member States in their contract. The current system in which US exporters are presented with a variety of import rules is expected to depart. In the EU Treaty, Member States ' commitment to the community by rapid compliance with their structures is the fundamental underlying concept. This Guideline states that Member States can take steps to ensure that the obligations arising from this Treaty are fulfilled.