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Western University
Political Science
Political Science 3366E
Nigmendra Narain

READINGS WEEK 18 SNOW CHAPTER 10 REGIONAL INTEGRATION PRECISFrank underlying political goal was to create a Europe in which a repetition of the events leading to the century of warfare centering around Germany and France would be interrupted Globalization represents the process of economic integration on its grandest scale incorporating the entire world or at least those parts of it willing and able to participatePurpose of this economic integration is to create greater economic efficiency by promoting Ricardian comparative advantage within the units undergoing the globalization processThe EU is the original and by far most advanced regional approach to economic integrationThe admixture of economic and political purposes tends to grow as the extend of the integrating unit expandsThe EU is unique in that it has traveled through all the steps of economic integration THE REGIONAL INTEGRATION PROCESSRegional integrationbinding together the economies of physically proximate states within a geographical areaDegree of integration involved in any particular proposed or existing schemeA taxonomy of gradually increasing levels of integration will be laid out FORMS OF INTEGRATIONGlobalization most scales are stated in terms of the pursuit of free trade The principal objectives of free trading arrangements are to encourage greater trade among members by reducing barriers to tradeCustoms unionthe members adopt a common external tariff toward all goods and services entering any of the membersThe various members all have their own external tariffsWhen a free trade area and customs union are created for the same physical area the result is the creation of a single or common marketThe goal of the common market is to create the free circulation of goods capital people and services within the geographic constraints of the common market regionCreate an economic area that maximizes the flow of goods services capital and people within the single market area while excluding or making more difficult the entry of items produced outside the area at lower costs
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