GMS 724 Lecture Notes - Lecture 4: North American Free Trade Agreement, Most Favoured Nation, Caribbean Community

• School: Ryerson University
• Department: Global Management Studies
• Course: GMS 724
• Professor: Howard Lin

Document Summary

To identify the major challenges of the world trade organization. To discuss the pros and cons of global, bilateral, and regional integration. To describe the static and dynamic impact of trade agreements on trade and investment flows. To define different forms of regional economic integration. To describe other forms of global cooperation such as the united nations and the organization of the. Regional trade agreements integration confined to a region and involving more than two countries. Geographic proximity is an important reason for economic integration. Major types of economic integration: free trade area no internal tariffs, customs union no internal tariffs plus common external tariffs, common market customs union plus factor mobility. The americas: caricom, mercosur (significant one), can, laia. Companies need to determine where to produce products. Companies need to determine what their entry strategy will be. Companies need to balance the commonness of the eu with national differences. Went into effect on january 1st 1994.