Chapter 8 Student P10

Chapter 8 Student P10 - ChapterEight RegionalEconomic...

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Chapter Eight Regional Economic  Integration
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Key Concepts Forms of regional economic integration The increasing importance of regional  economic integration The structure of the European Union and  current challenges
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Regional Economic Integration Regional economic integration refers  to agreements among countries in a  geographic region to reduce, and  ultimately remove, tariff and non-tariff  barriers to the free flow of goods,  services, and factors of production  between each other.
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Levels of Economic Integration Free Trade Area Customs Union Common Market Economic Union Political Union
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Remove Internal Barriers Common External Barriers Free Movement of Factors Common Economic Policy Political Integration Free Trade Area Customs Union Common Market Economic Union Political Union Levels of Economic Integration
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Remove Internal Barriers Common External Barriers Free Movement of Factors Common Economic Policy Political Integration Free Trade Area Customs Union Common Market Economic Union Political Union Levels of Economic Integration
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Remove Internal Barriers Common External Barriers Free Movement of Factors Common Economic Policy Political Integration Free Trade Area Customs Union Common Market Economic Union Political Union Levels of Economic Integration
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Remove Internal Barriers Common External Barriers Free Movement of Factors Common Economic Policy Political Integration Free Trade Area Customs Union Common Market Economic Union Political Union Levels of Economic Integration
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Remove Internal Barriers Common External Barriers Free Movement of Factors Common Economic Policy Political Integration Free Trade Area Customs Union Common Market Economic Union Political Union Levels of Economic Integration
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Remove Internal Barriers Common External Barriers Free Movement of Factors Common Economic Policy Political Integration Free Trade Area Customs Union Common Market Economic Union Political Union Levels of Economic Integration
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Forms of Economic Integration
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The Economic Case for Integration Increases world production. Stimulates economic growth. Regional economic integration can  provide additional gains from free  trade beyond the international  agreements such as GATT and WTO.
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The Political Case for Integration Economic interdependence creates  incentives for political cooperation  and this reduces potential for violent  confrontation. Together, the countries have more  economic clout to enhance trade with  other countries or trading blocs.
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Nation as a whole may benefit but  certain groups within countries may  be hurt. Concerns about loss of national 
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This note was uploaded on 10/22/2010 for the course MGT 302 taught by Professor West during the Spring '10 term at ASU.

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Chapter 8 Student P10 - ChapterEight RegionalEconomic...

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