What is meant by regional trading agreements?
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15. The European Union, the North American Free Trade Agreement (NAFTA) are examples of:
a. global trading agreements
b. regional trading agreements
Which of the following is true with regard to regional economic integration?
A. Agreements designed to promote freer trade within regions have failed to produce gains from trade for all member countries.B. World Trade Organization members are not required to notify the organization of any regional trade agreements in which they participate.C. Regional economic integration is good for consumers because it lowers prices.D. Regional economic integration benefits producers because they do not have to adapt to a more competitive environment.E. The movement toward regional economic integration been most successful in Asia.
Do regional trade agreements promote free trade or do they just create another kind of trade barrier? Explain your answer.
Why does the WTO permit regional trade agreements when they violate the "most favored nation" principle?
Explain your answer. Discuss intellectual property and the major issues it has on international trade negotiations.