December 2015
Intermediate to advanced
313 pages
16h 2m
English
Content preview from International Business, 2nd Edition by Pearson
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Regional Economic Integration 107
INTRODUCTION
Economic integration is the process of removal
of trade barriers between two or more nations and
the establishment of cooperation and coordination
between them. It is a part of the ongoing process of
globalization which is concerned with the growing
economic interdependence of countries. Thus, eco-
nomic integration may be viewed as a spectrum of
understanding between nations. At one end of the spectrum, lies a truly global economy in which all
countries share a common currency and agree to a free flow of goods, services, and factors of production.
At the other extreme, are a number of closed economies, ...
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