Chapter 4, Problem 2RDQ

Summary Introduction

To explain:

The present situation of the regional trading associations.

Introduction:

Countries have been engaging in trading activities across borders for centuries. However, with the recent, drastic changes in the political, economic and technological environments, such trading activities have been made much organized. Trading alliances or agreements are a group of countries that follow a set of rules and regulations in engaging in trading activities among member countries. Political and national security reasons have also been instrumental in forming such alliances. Economic growth is one of the main objectives of any international trading alliance.