regional integration paper

To define regional economic integration would be to say to arrange an agreement between country’s that agree to manage trade, fiscal or momentary policies.

Regional economic integrations is also defined as “agreements among countries, in geographic region to reduce, and ultimately remove tariffs, and nontariff barriers to the free flow of goods, services, and factors of production between each other” (Hill, 2009, p. 276). The year 1992 in the month of August talks between the governments of the United States, Canada and Mexico took place.These talks lead to the North American Free Trade Agreement (NAFTA).

This agreement eliminated all tariffs on bilateral trade between the three countries United States, Canada, and Mexico. NAFTA became law on January 1, 1994. “Under the NAFTA, all non-tariff barriers to trade between the United States, Canada and Mexico were eliminated; many tariffs were eliminated immediately, with others being phased out over periods of 5 to 15 years” (U. S.

Customs and Border Patrol, 2008).Numerous levels of regional economic integration exist. One level is in the free trade area which has no barriers for the trade of goods among member countries. Another level is where customs union which is a free trade area that includes a common external trade policy.

A common market which is a customs union that allows production to move between members is another level. Another level is an economic union which is a common market that requires a common currency, tax rate, and monetary and fiscal policies.Finally the last level is a full political union which is an economic union that includes a central political unit to coordinate the economic, social and foreign policy of member states. (p.

277 – 278). For People both support and criticize the regional economic integration. The supporters accept as true that regional integration permits a disadvantaged country to appreciate the scale of the economies. Supporters also believe that an increase of overall economic efficiency is beneficial to these countries.

Believers of NAFTA do argue that the 3 countries the United States, Canada and Mexico will benefit from such a movement. The U. S. and Canada will profit due to increased incomes in Mexico.

This will increase the demand on products from the U. S. and Canada which will in turn make up for production job losses. Another advantage of regional integration will be in the venue of international competitiveness allowing firms to better compete with their Asian and European competitors (p 291-292).

14 years NAFTA has achieved many of its core goals including expanding trade and investment between the U.S. , Canada and Mexico; trade among NAFTA nations has more than tripled, “…from $297 billion to $930 billion and business investment has risen by 117% since 1993” (U. S.

Trade Representative,2008, para 1). U. S. employment rose from 110.

8 million people in 1993 to 137. 6 million in 2007” (para 2). Mexican wages have continued to grow since the 1994 peso crisis, while studies have shown that Mexican industries that export or that are in regions with a higher concentration of foreign investment and trade also have higher wages” (para 6).

"Looking for a Similar Assignment? Order now and Get a Discount!

Assignments Writing Service | Get Better Grades Effortlessly
Calculate your paper price
Pages (550 words)
Approximate price: -

Why Work with Us

Top Quality and Well-Researched Papers

We always make sure that writers follow all your instructions precisely. You can choose your academic level: high school, college/university or professional, and we will assign a writer who has a respective degree.

Professional and Experienced Academic Writers

We have a team of professional writers with experience in academic and business writing. Many are native speakers and able to perform any task for which you need help.

Free Unlimited Revisions

If you think we missed something, send your order for a free revision. You have 10 days to submit the order for review after you have received the final document. You can do this yourself after logging into your personal account or by contacting our support.

Prompt Delivery and 100% Money-Back-Guarantee

All papers are always delivered on time. In case we need more time to master your paper, we may contact you regarding the deadline extension. In case you cannot provide us with more time, a 100% refund is guaranteed.

Original & Confidential

We use several writing tools checks to ensure that all documents you receive are free from plagiarism. Our editors carefully review all quotations in the text. We also promise maximum confidentiality in all of our services.

24/7 Customer Support

Our support agents are available 24 hours a day 7 days a week and committed to providing you with the best customer experience. Get in touch whenever you need any assistance.

Try it now!

Calculate the price of your order

Total price:
$0.00

How it works?

Follow these simple steps to get your paper done

Place your order

Fill in the order form and provide all details of your assignment.

Proceed with the payment

Choose the payment system that suits you most.

Receive the final file

Once your paper is ready, we will email it to you.

Our Services

No need to work on your paper at night. Sleep tight, we will cover your back. We offer all kinds of writing services.

Essays

Essay Writing Service

No matter what kind of academic paper you need and how urgent you need it, you are welcome to choose your academic level and the type of your paper at an affordable price. We take care of all your paper needs and give a 24/7 customer care support system.

Admissions

Admission Essays & Business Writing Help

An admission essay is an essay or other written statement by a candidate, often a potential student enrolling in a college, university, or graduate school. You can be rest assurred that through our service we will write the best admission essay for you.

Reviews

Editing Support

Our academic writers and editors make the necessary changes to your paper so that it is polished. We also format your document by correctly quoting the sources and creating reference lists in the formats APA, Harvard, MLA, Chicago / Turabian.

Reviews

Revision Support

If you think your paper could be improved, you can request a review. In this case, your paper will be checked by the writer or assigned to an editor. You can use this option as many times as you see fit. This is free because we want you to be completely satisfied with the service offered.

Get better grades effortlesslyIt’s cheaper than you might think

Effortlessly get the essays and grades you need. You can now get any essay, on any subject and at ANY deadline with just 10 minutes of your time (or less). Your professor will love you for it!