Term Paper on "Globalization Regional Integration Efforts Were Created"
Term Paper 4 pages (1013 words) Sources: 3 Style: APA
[EXCERPT] . . . .
GlobalizationRegional integration efforts were created in order to remove economic barriers between nearby countries and prevent conflicts. It involves the trade of good without tariffs and quotas; free movement of services, labor, and capital; removal of trade policies that provide advantage of local businesses; and better property rights. After World War II, there has been a dramatic rise in the number of Regional Trading Agreements (RTA) submitted to the GATT (124 RTAs during 1948-1994) and more after the World Trade Organization (WTO) was created (265 RTAs) (Pengiran, 2003). The main motivation for the countries involved was to improve the economy by expanding the markets from local to regional/global. Wealthy countries almost always did the initiative, but less-developed countries also benefit from the integration. East Asia regionalization efforts followed suit, most especially after the economic crisis during 1997. The financial crises and depression became a wake up call to avoid similar incidents in the future. The organizations described below will include the major regional integration efforts, their histories, and advantages/disadvantages of each one.
II. History and Analysis
Regional Integration first started in Europe through the Maastricht Treaty on November 1993. This created the European Union (EU) whose aim was to prevent another war after World War II by joining the countries in economic and political cooperation. Right now, it has 25 member countries making use of a single constitution and a single currency system called the Euro. The EU is the largest and most powerful regional integration effort right now. It evolved from simple e
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The North American Free Trade Agreement (NAFTA) was created on January 1994 to enable free trade agreements between United States, Canada, and Mexico. It eliminated tariffs and restrictions between the three countries. The main advantage is free trade and unrestricted exportation. It also helped Mexico's modernization that was made possible by U.S. assistance. Cheap labor was also made available, and jobs were created (40,000 jobs for every $1 billion in exports). Specialization was achieved by each member country, with U.S. In technology and Mexico for labor.
The disadvantages caused by NAFTA are the loss of jobs, environmental problems, lower safety and… READ MORE
Quoted Instructions for "Globalization Regional Integration Efforts Were Created" Assignment:
Region is North America. Prepare a paper in which you analyze the role of regional integration in promoting global business. Discuss the advantages and disadvantages of regional integration (NAFTA, EU, APEC, A*****, CAFTA, etc.). Compare and contrast the economic development stages of countries within your chosen region and the ramifications of your region*****s economic development for global business.
How to Reference "Globalization Regional Integration Efforts Were Created" Term Paper in a Bibliography
“Globalization Regional Integration Efforts Were Created.” A1-TermPaper.com, 2007, https://www.a1-termpaper.com/topics/essay/globalization-regional-integration/3782571. Accessed 5 Oct 2024.
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