Regional Integration and Globalization
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This paper focuses on organizations that are involved in regional integration efforts. The paper describes these organizations, and includes the major regional integration efforts, histories, advantages, and disadvantages of each one. The paper notes that these efforts involve the trade of goods 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. The paper discusses the North American Free Trade Agreement (NAFTA) and the Asia-Pacific Economic Cooperation (APEC), the Association of Southeast Asian Nations (ASEAN), and the Central America Free Trade Agreement (CAFTA).
History and Analysis
History and Analysis
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
Cite this Analytical Essay:
Regional Integration and Globalization (2010, October 05) Retrieved February 23, 2020, from https://www.academon.com/analytical-essay/regional-integration-and-globalization-144777/
"Regional Integration and Globalization" 05 October 2010. Web. 23 February. 2020. <https://www.academon.com/analytical-essay/regional-integration-and-globalization-144777/>