Regional Economic Integration Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall
International Business 5e Chapter Chapter Preview Define each level of regional integration Identify the potential effects of integration Discuss European integration and enlargement Characterize integration efforts in the Americas Identify why integration in Asia is unique Discuss integration in the Middle East and Africa
Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e Chapter Process whereby countries in a geographic region cooperate to either reduce or eliminate barriers to the free flow of products, people, or capital Regional Economic Integration
Copyright © 2010 Pearson Education, Inc. publishing as Prentice Hall International Business 5e Chapter Levels of Regional Integration Coordinate aspects of members’ economic and political systems Political Union Remove barriers to trade, labor, and capital, set a common trade policy against nonmembers, and coordinate members’ economic policies Economic Union Remove all barriers to trade, labor, and capital among members, and set a common trade policy against nonmembers Common Market Remove all barriers to trade among members, and set a common trade policy against nonmembers Customs Union Remove all barriers to trade among members, but each country has own policies for nonmembers Free-Trade Area
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