Introduction – Regional Trading BLOCS, Agreements & Unions
The worldwide movement toward economic, financial, trade, and communications integration. Globalization implies the opening of local and nationalistic perspectives to a broader outlook of an interconnected and interdependent world with free transfer of capital, goods, and services, across national frontiers. Companies – large multinationals to SME’s (small and medium enterprises) have gone global. However, it does not include unhindered movement of labor and, as suggested by some economists, may hurt smaller or fragile economies if applied indiscriminately.
Trading BLOCS on the other hand, is a set of countries which engage in international trade within a REGION together, and are usually related through a free trade agreement or other association.
An agreement between states, regions, or countries, to reduce barriers to trade to trade between the participating regions. The most well-known trade bloc is the North American Free Trade Agreement (NAFTA) between the United States, Canada, and Mexico and the European Union (EU) with 27 strong European countries. Some opponents of trade blocs believe that such agreements and unions are detrimental to global free trade.
This seminar is an INTRODUCTION to global trading blocs!
Globalization impacts:
Education, Business, Economy, Capitalism, Culture, Politics, Production, Markets, Health Care and Policies.
Objectives/Covered
Introduction to EU, APEC, NAFTA, MERCOSUR, GCC, ECOWAS, OPEC, ASEAN, AND OTHERS.
Describe why companies are “going global”
Define which nations will be the future global leaders both in terms of population and spending power.