文档介绍：English For International Business Chapter 2 Regional Economic Integration
Global Understanding of Text
Notes to the text
Vocabulary and Key Terms
Exercise
Additonal Information
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is meant by regional economic integration?
It is defined as agreements among countries in a geographical region to reduce and ultimately remove triff and non-tariff barriers to the free flow of goods, services and factors of production between each other.
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2. Forms of regonal economic integration
Any type of arrangement in which countries agree to coordinate their trade, fiscal, and ary policies is referred to as economic integration:
1) The Preferential Tariff Arrangement (PTA)优惠关税
2)The Free Trade Area (FTA) 自由贸易区
3) The Customs Union 关税同盟
4) mon Market
5) The Economic Union
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3. Difference between free trade area and customs union
A customs union can be viewed as a regional trading bloc with higher integration level than a free trade area.
A customs union may be evolved into from a free trade area.
A free trade area is politically straightforward and an administrative haedache
A customs union is straightforward in administration, but a headache politically
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4. Requirements for an economic union
Maintaining free trade in goods and services;
mon external tariffs among members;
Allowing the free mobility of capitaland labor;
Relegate(降低) some fiscal spending responsibilities to a supra-national agency(eg. CAP—The European Union’mon Agriculture Policy);
establishing a ary union (common currency),involving the formation of a central ary authority which will determine ary policy for the group.
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5. Information about the EU
See History of EU
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6. Examples of regional economic integration
In Europe
The EU
EFTA ()
- seven members
- its headquarter in Ge