Regional Paper Select a region, and prepare a 1,050-1,750-word paper in which you analyze the role of regional integration in promoting global business.

DefinitionThe concept of regional economic integration is defined as nations of a geographic region coming to build upher in some type of arranging to foster craftsmanship and development. Investorswords.com defines NAFTA as the (NAFTA, 2007) ?North American Free Trade Agreement. A 1994 system reached by the unify States, Canada, and Mexico that instituted a schedule for the phasing out of tariffs and eliminated a variety of fees and other hindrances to encourage bleak trade amid the cardinal North American countries.? Under this trade agreement, every non-tariff barriers to culture depart be eliminated by 2008. NAFTA is considered a complimentary trade area type of agreement. The first characteristic of a free trade area is the liberalization of trade command for members. Second, the removal of trade barriers placed against members. This includes the removal of tariffs, quotas, and various non-tariff barriers, or a pledge to remove such trade barriers by a certain date. AdvantagesNAFTA allows the member countries to specialize in their exported intersection and therefore, get down more efficient in its production. This agreement spurs growth, generates jobs and protects the surround in the member nations. NAFTA promotes competitive advantage by the social cause of modern technology and the use of cheap labor. The agreement exit help to modernize Mexico thus requiring that country to purchase equipment from the joined States. Plants in Mexico are more likely to buy components from the join States and for every $1b in exports, 40,000 US jobs are created. (Royo S, 2001). It was anticipated that US automakers would benefit in the short run by bring advantage of the low wages in Mexico and that the United States shred farmers and the United States banking, financial, and telecommunications sectors would gain enormous new markets. DisadvantagesThe disadvantages of NAFTA include the active out of labor jobs in the United States. If you want to g! et a full essay, order it on our website: OrderEssay.net

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