Yes, I expect further enlargement of all three organizations because of the positive effects they have had. NAFTA is the North American Free Trade Agreement. It is a signed agreement by the governments of the US, Canada and Mexico creating a trade agreement in North America. The agreement came into force on January 1, 1994 and its goal was to eliminate the barriers of trade and investment between the USA, Canada and Mexico. Upon its agreement tariffs on over half of the US imports from Mexico were eliminated.
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NAFTA also seeks to eliminate non-tariff trade barriers. I expect further enlargement of NAFTA because of the positive effects it has had. NAFTA has been a positive change for Mexico which has seen the poverty rates fall and income rise. NAFTA has also been beneficial to business owners in all three countries. ASEAN is the Association of Southeast Asian Nations. ASEAN is an economic organization of ten countries located in Southeast Asia. It was formed on August 8, 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand.
Since it first started it has grown to include Brunei, Burma, Cambodia, Laos, and Vietnam. It aims to accelerate economic growth and cultural development among its members and also be a place where each member can discuss political issues peacefully. The European Union is an economic and political union of twenty seven states located in Europe. It has developed a single market through a system of laws which apply to all members to ensure free movement of people, goods, and services. It maintains common policies on trade. B.
How would you estimate the future economic and political relationship between China and ASEAN? Would you predict China becoming a member of ASEAN? Explain your responses. I think that China should be a part of ASEAN. Relations between China and the Association of Southeast Asian Nations have undergone significant changes over the past 15 years. China and ASEAN have formed a strategic partnership for peace and prosperity, signed a framework agreement on a China-ASEAN Free Trade Area (CAFTA), and is cooperating on a range of issues of mutual interest .
China should become a member of ASEAN because it would mean that China and ASEAN had a more stable relationship that would promote regional peace and stability between the countries. C. Is the world heading towards a globe of “competing regional blocks”? Why or why not? It does seem like the world is heading towards a globe of competing regional blocks. Instead of partnering with neighboring countries we need to look at each country and see what each table could bring to the table and have only have one regional block.
