Regional Integration and Trading
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Select a region and choose a trading bloc (NAFTA, EU, ASEAN, etc.) within that region.
Write two 300- to 400-word articles, one article in favor of regional integration and another article against regional integration.
Describe the advantages and disadvantages of regional integration and relate the stage of economic development of the economically integrated region to potential business opportunities.
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Describe the advantages and disadvantages of regional integration and relate the stage of economic development of the economically integrated region to potential business opportunities.
Favor of Regional integration
Regional integration has several advantages. One of these is that each country in the region will experience increased trade. This will bring increase in income and prosperity in the region. The producers in the region will be able to extract increased returns to scale and will be able to compete on better terms globally. Regional integration is beneficial because it has the potential of attracting direct foreign investment from within the region as well as become more attractive for foreign direct investment from abroad. Further, there can be closer coordination among industries within the region leading to increased competitiveness as well as greater bargaining power in the global markets. Regional integration increases trade and business relations among the member countries and this leads to greater trust and security among the trading partners.
The area selected for discussion is NAFTA. This Regional integration has been so successful that it has turned into the largest free trade area. NAFTA connects 439 million people and produces $15.3 trillion in goods and ...
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