Economic Integration
Overview:
To help you structure the background, findings, and conclusions sections of your paper, the following guiding questions are provided:
Summary:
State the name of your Regional Economic Integration and provide a brief history. Secondly, identify and discuss the level of economic integration. Also what are the goals of this integration? What other nations are members? Do the member countries have similar political and legal systems? What economic, political, and social objectives drive integration?
For the integration you selected, does it comprise developed, newly industrializing, emerging, or developing countries?
How does it rank on the various measures of economic development? Has it undergone any form of economic transition within the past 15 years? If so, how has that transition affected the culture and the country’s political, legal, and economic systems? How important is trade (trade as a share of GDP) for its member countries? What products and services does it export and import? Is it dependent on any particular nation for trade, or does another nation depends on it? Is outsourcing affecting its trade patterns? Do they trade with member nations only or non-member countries as well?
Analysis
To what extent do its members intervene in trade among members? What are its political, economic, or cultural motives for intervention? What methods, if any, does the integration use to: (a) promote exports and (b) restrict imports? Has any member country filed a complaint with the WTO against another member nation? Therefore, has it been reported by another nation for unfair trade practices? Also does it attract large amounts of FDI? Is it a major source of FDI for other nations? How does the government of member nations encourage or restrict trade with other nations?
Additionally, identify any new efforts from a country to join or exit this integration? Also so far, what have been the positive and negative results of this integration? Hence How are international companies (domestic and non-domestic) coping with the integration?
What is the exchange rate between its currency and that of the United States? Also Do they have one currency or are considering moving in that direction? Additionally, What factors are responsible for the stability or volatility in that exchange rate? Are there any restrictions on the exchange of the nation’s currency?
Are the member countries members of the IMF? Also does it participate in a regional monetary system to manage exchange rates? Do you believe there is any trade creation from this integration within member nations? How about trade diversion? Do you think the welfare effects of integration have any impact on trading nations? How about its impact on non-members?
Final Analysis: Do you believe regional economic integration has been successful and beneficial to this region? Provide substantial arguments.
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