国际商务第八章.pptVIP

Chapter 8 Economic Integration Learning Objectives To review types of economic integration among countries To examine the costs and benefits of integrative arrangements To understand the structure of the European Union and its implications for firms within and outside Europe To explore the emergence of other integration agreements, especially in the Americas and Asia To suggest corporate response to advancing economic integration Introduction Economic integration is best viewed as a spectrum with the various integrative agreements in effect today lying in the middle of this spectrum The level of integration defines the nature and degree of economic links among countries Levels of Economic Integration Trading bloc: preferential economic arrangement among a group of countries Trading blocs may take various forms: Free trade area Customs union Common market Economic union The Free Trade Area and the Customs Union The free trade area is the least restrictive and loosest form of economic integration among countries In a free trade area, all barriers to trade among member countries are removed Members of a customs union dismantle barriers to trade in goods and services among themselves A customs union establishes a common trade policy with respect to nonmembers The Common Market and the Economic Union A common market has no barriers to trade among members and has a common external trade policy Factors of production are mobile among members Members of a common market must be prepared to cooperate closely in monetary, fiscal, and employment policies The creation of a true economic union requires integration of economic policies in addition to the free movement of goods, services, and factors of production Under this union, members would harmonize monetary policies, taxation, and government spending and a common currency would be used by all members Arguments Surrounding Economic Integration A number of arguments surround economic integration These arguments center on: Trad