Trade Bloc Essay

Submitted By paddydonnelly
Words: 585
Pages: 3
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Trade Bloc
Main Characteristics of member countries
Purpose of group
Benefits of joining this group
EU
Geographical location, Structural evolution, Economy, Foreign relations, treaties & governance.
Top develop a strong economy throughout Europe. It is a supranational organisation which helps to resolve democratic, social and political issues throughout member of states.
Political Stability and greater integration amongst European states. Increased trade and competition (this advantages everyone as countries of different levels of economic development can compete against each other).
NAFTA
Geographical location. To allow free trade between Canada, USA and Mexico.
To allow better economic development in Mexico as the unemployment rate is high. To make more jobs within the three countries. To sustain Canada with a better TNC based economy.
Tariff elimination between these countries.
Growth since initiation:
Mexico’s growth – 40%
USA growth – 48%
Canada’s growth – 49%
Mexico’s poverty rate has decreased by 5% and real income has increased by 5%.
Substantial amount of jobs made. OPEC
Geographical location based by petroleum reserves. Grouping of countries that export petroleum for consumption uses.
The wealthier countries such as Qatar & Saudi Arabia can support the petroleum rich countries of e.g. Venezuela through services and development. It is a global grouping for all exporting countries of petroleum to compete and support each other.
Unifies countries of different economic development who all export petroleum. This grouping provides 45% of the world’s total crude oil that is roughly 37.62 million barrels of crude oil a day. Regulated oil prices all around the globe and ensures market stability.
OECD
The Organisation for Economic Co-operation and Development. This is an international economic organisation of 34 countries to stimulate economic progress and world trade
It is a global market economy that Provides a platform to compare policy experiences, seek answers to common problems, identify good practices and coordinate domestic and international policies of its members.
Tax treaties. Covers economic, environmental and social problems in all 34 countries. It likes to deal with its issues in the most sustainable way possible. International investments and multinational enterprise.
BRICS
To show the initiation of the top 5 NIC’s. It is to outline the economic, social and demographic development of these countries. These countries are Brazil, India,
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