African Union o Why has trade blocks not worked They are poor Not buying or

African union o why has trade blocks not worked they

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Economic blocks etc. African Union o Why has trade blocks not worked? They are poor Not buying or consuming anything Most economies export/import outside of Africa Not trading with one another SCO o Shanghai Cooperation Organization Russia and China are primary members New block Not sure what their mission is Economics is important Working together to encourage trade, building infrastructure to move natural gas and oil OPEC o Cartel Not a trade block Formal agreement between competing businesses to control most of a resource Nothing to do with trade except when it comes to one thing o Organization of petroleum exporting countries o Members
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Ecuador, Venezuela, Algeria, Libya, Nigeria, Angola, Iraq, Iran, Kuwait, Qatar, Saudi Arabia, UAE These 12 countries nationalize their oil industries o Could the US join OPEC? It can never join because it doesn’t control its oil industry Does not export oil Produces a lot of it but still needs to import to fill huge demand o World is addicted to oil o Major non-OPEX oil producers
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  • Fall '08
  • European Union, European Economic Community, trade block, Individual legal entity

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