BUS 346 Chapter Notes - Chapter 8: Economic Community Of West African States, Gulf Cooperation Council, Mercosur
23 Apr 2016
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Chapter eight: regional economic integration: regional economic integration. Regional economic integration: process whereby countries in a geographic region cooperate to reduce or eliminate barriers to the international flow of products, people, or capital. Discussion question: what are several potential benefits of regional economic integration and. Potential benefits of regional economic integration include trade creation, greater consensus, political cooperation, and job creation. Potential drawbacks include trade diversion, shifting employment, and lost sovereignty. Bombardier"s latin america division generates between 3 and 5 percent of the company"s total earnings, with 95 percent of those earning coming from mexico: agreements between countries. Maastricht treaty (1991) and three aims: banking in a single, common currency. Removes financial obstacles by the use of multiple currencies. Eliminates exchange-risk for business deals between member nations using the . Prices are more transparent: monetary and fiscal targets, political union development of a common foreign policy and common citizenship. Future eu members must meet the four copenhagen criteria .
