Exam1_FC - NAFTA Asia The region of the world Central...

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Unformatted text preview: NAFTA Asia The region of the world Central Florida does the most trade with. A free trade agreement between the US, Canada, and Mexico which has in essence removed all barriers to trade. EU NAFTA Created a huge North American market; agreement will expand to include Latin American countries, Chile, Argentina, and Brazil. Consists of 27 Western European nations; trade barriers between members have been removed. United Kingdom United Kingdom The number one investor in the United States. The number one country the United States invests in. >1 Billion 1.3 Billion The population of China. The population of India. 13.8 Billion .3 Billion The population of the US. The US is the world’s top economy at ____. GATT 4.3 Billion Japan is the world’s second top economy at ____. International organization created in 1947 to reduce or completely eliminate tariffs to increase free trade. Normal Trade Relations or Most Favored Nation (MFN) GATT Lacked the power to force nations to resolve trade disputes. GATT’s operating principle. WTO Uruguay Round The last meeting of GATT. The negotiating forum that replaced GATT with the power to resolve trade disputes; 153 nations. Geneva, Switzerland WTO Controls 90% of the world’s trade through settlement mechanisms that are faster, more effective, and binding. Headquarters of the WTO. .14 Yuan Renminbi 109 Yen One US dollar is equivalent to ____ in Japan. One US dollar is equivalent to ____ in China. Czech Republic, Hungary, and Poland “The People’s Money”; RM China’s currency, yuan renminbi, is translated as ____, and is referred to as ____. The best of Central and Eastern Europe after breaking from the USSR; transitioned to market economies: Forint Czech Republic Starting to attract outside investors; prides itself on drinking more beer per person than any other country. Hungary forms joint ventures with Western firms with its currency, ____. Central and Eastern Europe Poland Eastern Europe’s largest producer of food and one of the top 10 Big Emerging Markets despite its “Brain Drain.” An untapped area being targeted by MNCs looking for expansion opportunities (i.e....
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This note was uploaded on 09/08/2011 for the course MAN 4000 taught by Professor Laurynmigenes during the Spring '10 term at University of Central Florida.

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Exam1_FC - NAFTA Asia The region of the world Central...

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