ch. 47: world trade patterns & trading blocs. world trade (wt) patterns what have the trends...
DESCRIPTION
Trading blocs Definition = ? trading blocs: a group of countries situated in the same region (usually) that join together and enjoy trade free of quotas, tariffs and other trade barriers E.g. =? EU, NAFTA (North American Free trade Agreement), CARICOM (Caribbean Community) Ykhttp://www.youtube.com/watch?v=YDUq0DINh Yk (3:50)TRANSCRIPT
Ch. 47: World trade patterns & trading blocs
World Trade (WT) Patterns
What have the trends been in WT over the past 60 years in terms of amounts & regions?Do getting startedReasons for ↑ in WT•better transport & communications•↓ trade barriers•↑ multinationals•travel & consumer awareness•trade agreements• communism (break-up USSR)
Trading blocs•Definition = ? trading blocs: a group of countries
situated in the same region (usually) that join together and enjoy trade free of quotas, tariffs and other trade barriers
•E.g. =?•EU, NAFTA (North American Free trade
Agreement), CARICOM (Caribbean Community)
http://www.youtube.com/watch?v=YDUq0DINhYk
(3:50)
Advantages of trading blocs Disadvan’s of trading blocs
To members; As with free trade generally
(see P.210) ↑ FDI (What is this?) ↑ co-operation, ↓ tension
To members; Still not world free trade Membership & other
compliance costs Overdependence on blocsTo non-members Trade barriers when trading
with the blocExam Practice