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Essay / Research Paper Abstract
This 6 page paper begins with a definition of regional trading bloc, reports the number of regional blocs and provides some examples. The purpose of these affiliations is discussed, e.g., the objectives for the European Union are reported. The three discussed are ASEAN, European Union and NAFTA with some of the outcomes of each. Bibliography lists 9 sources.
Page Count:
6 pages (~225 words per page)
File: MM12_PGregtdc.RTF
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create less restrictive trade between the members of the bloc (Reardon et al, 2002). These blocs also may create standards for non-members of the bloc in terms of trade (Reardon
et al, 2002). There are about 32 trade blocs in the world but there are more than 180 different regional trade agreements (Reardon et al, 2002). These other trade
agreements may be just between two or a few countries, they are not regional blocs. The World Trade Organization reports that all 134 of its members "are signatories to regional
trade agreements with other countries" (Reardon et al, 2002). The best-known regional trading blocs are the European Union (EU), the North American Free Trade Agreement (NAFTA), Association of Southeast
Asian Nations (ASEAN), and Mercado Comun del Cono Sur (MERCOSUR) (UC Atlas of Global Inequality, 2006). MERCOSUR is also called the Southern Common Markets (SCCM) (UC Atlas of Global Inequality,
2006). There is also the Asia-Pacific Economic Cooperation (APEC), which is one of the fastest growing trade regions in the world (Reardon et al, 2002). Furthermore, it has always been
planned to engage more Latin America countries in the NAFTA scheme, which would create the Free Trade Area of the Americas (FTAA) (Reardon et al, 2002). These regional trade blocs
were formed to benefit members and specifically the economy of members (Reardon et al, 2002). However, the actual benefits have been questioned for decades (Reardon et al, 2002). As early
as the 1950s, analysts were pointing out that these trade blocs could have negative effects on citizens in member countries because cheaper labor could be used (Reardon et al, 2002).
Others argue that these agreements can improve the economy of member states and thus, have positive benefits for citizens (Reardon et al, 2002). It is not likely this debate will
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