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Market Integration
Economic cooperation between countries in a region
Market Integration
Goal: improve competitiveness and free trade.
Market Integration
Example: ASEAN, EU
Free Trade Area”
Elimination of tariffs among member countries
Free Trade Area/
Retains separate external tariffs.
Free Trade Area.
Promotes free flow of goods and services.
Free Trade Area
Example: ASEAN Free Trade Area (AFTA)
Issue of Unfair Trade Practices
Price manipulation (dumping)
Issue of Unfair Trade Practices
Child or underpaid labor
Issue of Unfair Trade Practices
Ignoring health and environmental standards
European Union, North American Free Trade Agreement
Examples of Regional Economic Blocs in Western Blocs
Examples of Regional Economic Blocs in Asia Pacific Blocs
ASEAN Economic Community, Asia Pacific Economic Cooperation
WTO, World Bank, IMF, ADB, AIIB
What are the Major International Economic Institutions?
WTO
Oversees global trade rules.
World Bank
Funds development projects.
IMF
Ensures global financial stability
ADB
Promotes growth in Asia
AIIB
Funds infrastructure in Asia.