BA 3340 Lecture Notes - Lecture 6: Caribbean Community, Maastricht Treaty, United States Dollar
Document Summary
Agreements between countries in a geographic region to reduce tariff and non-tariff barriers to the free flow of goods, services, and factors of production between each other. Involves a central political apparatus that coordinates the economic, social, and foreign policy of member states i. the eu is headed toward at least partial political union, and the u. s. is an example of even closer political union. All countries gain from free trade and investment. Linking countries together, making them more dependent on each other. Europe has two trade blocs: the european union (eu) with 27 members. The eu is seen as the world"s next economic and political superpower: the european free trade area (efta) with 4 members. Committed the ec countries to work toward establishment of a single market by. Born out of frustration among ec members that the community was not living up to its promise.
