December 2015
Intermediate to advanced
313 pages
16h 2m
English
Content preview from International Business, 2nd Edition by Pearson
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128 International Business
■ Regional economic integration takes several dierent forms, including common markets (for
example, EU and MERCOSUR), free trade areas (for example, NAFTA and ALADI), customs
union (for example, CACM and CARICOM), economic cooperation forums (for example,
APEC), and economic and political associations (for example, ASEAN).
■ International economic integration also occurs at the commodity level via the establishment of
commodity cartels like OPEC which is an intergovernmental organization and the strongest col-
lective force in the international oil market today.
KEY TERMS
Economic integration, Free trade area, Customs ...
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