Globalization

Paper Summary:

This paper examines the rationale behind globalization with an emphasis on the history of free trade agreements. The advantages and disadvantages of free trade treaties are discussed. Various free trade agreements from differing regions of the world are summarized.

Outline:
Introduction
History and Analysis
Bibliography

From the Paper:

"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 economic cooperation into a federation system. At the same time, it was able to maintain each member's sovereignty and national interest. As of 2004, it had the largest economy in the world having a GDP of 12,481,824 million dollars with significant trade surplus ("European Union" n.d.). The main advantages of the EU are: (1) a huge market of 400 million people where member economies can enter without restrictions; (2) freedom of EU citizens to move freely and get jobs within the member countries; and (3) a diverse choice of low-cost goods and services brought about by competition. The disadvantages, however are: (1) The EU has great power that it can dictate the policies and politics of an individual country; (2) the EU is undemocratic, and decisions are made by a single council; (3) too many rules and regulations that promote bureaucracy and unnecessary overhead ("International Organisations - The European Union" n.d)."

Sample of Sources Used:

• "Association of Southeast Asian Nations, ASEAN" (n.d.) Retrieved 20 April 2007 from http://www.itcilo.it/english/actrav/telearn/global/ilo/blokit/asean.htm
• "European Union" (n.d.) Retrieved 20 April 2007 from http://experts.about.com/e/e/eu/European_Union.htm
• "International Organisations - The European Union" (n.d) Retrieved 20 April 2007 from http://oxfam.org.uk/coolplanet/milkingit/information/international_orgs/international_orgs_eu.htm
• Ahmad, Pengiran Mashor Pengiran (2003). "East Asia Economic Community: Prospects and Implications" Retrieved 20 April 2007 from http://www.aseansec.org/15655.htm
• Kelsey, Jane (n.d.) "East Timor Alert Network - Demystifying APEC" Retrieved 20 April 2007 from http://www.redeagle.com/etanbc/drk.html

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