![]() ![]() However, trading with a foreign country does not necessarily mean that it will be beneficial both parties. Moreover, economic integration is developing around the globe at an unprecedented pace. Countries liberalize trade because they expect gains for their economies through different mechanisms. Introductionįrom an economic perspective, the rationale behind freer trade rests on the existence of economic gains. However, the global amalgamation of countries might force other regions to form same alliances in order to maintain commercial and financial leadership in the geopolitical environment. Such integration might not seem to be as unviable in the future as it might look in the present. Finally, a section analyzes the possibility of currency integration in North America involving Mexico, United States, and Canada, called the Amero. It also argues the relationship between trading blocs and currency zones, whereas a trading bloc eventually evolves into a currency zone, or vice versa, a currency zones evolves into a trading bloc. This report describes the major trading blocs in the world, such as NAFTA, EU, MERCOSUR, and ASEAN, as well as their positions in the international scenario. ![]() Worlds Major Trade Blocs Currency Zones And The AmeroĪs the world integrates through the creation of new intergovernmental agreements, known as trading blocs, every country expects to obtain and economical and financial benefit. ![]()
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