|
Papers > Miscellaneous > link between regional and international trade
Featured Papers from Direct Essays |
|||
1. Mexico Country Analysis
|
|||
This is a preview of a paper to view the full text you need to signup and login.
link between regional and international trade |
|||
|
THE LINK BETWEEN REGIONAL ECONOMIC INTEGRATION AND INTERNATIONAL TRADE (MULTILATERALISM) “Increasingly much international trade is taking place in a context where countries accord differential treatment to their trading partners. ... Paschal Lamy (2002) in a speech, distinguished two types of models, which cover the different types of regional economic integration types: The first model he named the “good neighbours’ model”. ... The definition of common rules tends to be limited to the strict minimum of what is needed to ensure a level playing field for trade. ... Their common names are free-trade areas and customs union- they possess rules of origin and a common external tariff which prevent ‘transshipment’- a strategy used by non-member countries to escape some of the trade restrictions in the more highly protected member countries by exporting through a lower protected member country. Examples of these are EFTA, NAFTA, ASEAN (free trade areas) and SACU (customs union). ... The emergence of these regional economic arrangements, “have lead to fears of fragmentation of the world economy into trading blocs, in antithesis to the multilateral free trade system represented by the world trade organisation (WTO) and the importance of trade blocs increasing the bargaining potential of its members is gaining credibility. Has the recent regionalism or the wave of ‘new regionalism’, as it has been termed, hindered multilateral trade, is the crucial question confronting economists and political scientists studying contemporary trends in the world trade” (Moana Bhagabati 2001). The growth of trade, investments, technology and communication increasingly link a world of countries at different levels of development and this, in turn, has expanded the frontiers of the multilateral trading system. ... Though if the international trading system saw the reinforcement of multilateralism in the conclusion of the Uruguay Round of Multilateral Trade Negotiations in 1994 and the establishment of the WTO, it also witnessed an almost parallel trend towards regionalism of the world economy. There has been a surge in regional trade agreements (RTA’s) notified to the former General Agreement on Tariffs and Trade (GATT) and subsequently to the WTO. More than 60% of the world trade is now covered by regional pacts, and almost all major trading nations are now members of at least one regional trading agreement. This lends credence to the theory that regionalism is emerging as a parallel force to multilateralism in the international economic system. Given that integration efforts are becoming prominent in public debate as shown in the views above, it is important for the general trade and welfare effects of these agreements be considered. |
|||
To link to this page, copy the following code to your site:
Paper Information |
|||||
Title: link between regional and international trade
|
|||||
Signup & Login |
|||||
If you don't currently have a login then Signup here |
|||||
| Pre-Written Papers | |||||
|
|||||
| Custom Papers | |||||
|
|||||
Copyright 2003-2008 doingmyhomework.com. All rights reserved.