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Unformatted text preview: Explain. 9. Why do nations enter in to Regional Economic Integration pacts? 10. Define and describe both trade creation and trade diversion in some detail, such that you understand the differences. Things to consider: If a regional economic integration pact is successful, which will occur the most? With question seven on FDI and question eight on global/local, are you getting a feel for the term globalization on a regional basis? Do you see that the concept Fortress Europe is a concept emanating from an external viewpoint? Do you see how this culls FDI from firms based in other nations?...
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- Fall '07