At the start of 2010 a new free trade area was established incorporating China and the six founding members of the Association of South East Asian Nations (ASEAN). These countries are Brunei, Indonesia, Malaysia, Philippines, Singapore, and Thailand. The aim is to eliminate 90% of imported goods. This deal created the largest trade area in the world, with nearly 1.9bn people. Although there are undoubted gains there have also been warnings from South East Asia that some industries are not ready to compete with China and that jobs will be lost.Questions What is a free trade area?Outline the potential advantages and disadvantages of joining this area for the member countries.What factors determine the extent to which industries within a country gain or lose? At the start of 2010 a new free trade area was established incorporating China and the six founding members of theAssociation of South East Asian Nations (ASEAN). These countries are Brunei, Indonesia, Malaysia, Philippines,Singapore, and Thailand. The aim is to eliminate 90% of imported goods. This deal created the largest trade area in theworld, with nearly 1.9bn people. Although there are undoubted gains there have also been warnings from South EastAsia that some industries are not ready to compete with China and that jobs will be lost.Questions1. What is a free trade area?2. Outline the potential advantages and disadvantages of joining this area for the member countries.3. What factors determine the extent to which industries within a country gain or lose?

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ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

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At the start of 2010 a new free trade area was established incorporating China and the six founding members of the Association of South East Asian Nations (ASEAN). These countries are Brunei, Indonesia, Malaysia, Philippines, Singapore, and Thailand. The aim is to eliminate 90% of imported goods. This deal created the largest trade area in the world, with nearly 1.9bn people. Although there are undoubted gains there have also been warnings from South East Asia that some industries are not ready to compete with China and that jobs will be lost.

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What is a free trade area?
Outline the potential advantages and disadvantages of joining this area for the member countries.
What factors determine the extent to which industries within a country gain or lose?

At the start of 2010 a new free trade area was established incorporating China and the six founding members of the
Association of South East Asian Nations (ASEAN). These countries are Brunei, Indonesia, Malaysia, Philippines,
Singapore, and Thailand. The aim is to eliminate 90% of imported goods. This deal created the largest trade area in the
world, with nearly 1.9bn people. Although there are undoubted gains there have also been warnings from South East
Asia that some industries are not ready to compete with China and that jobs will be lost.
Questions
1. What is a free trade area?
2. Outline the potential advantages and disadvantages of joining this area for the member countries.
3. What factors determine the extent to which industries within a country gain or lose?

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