10

Regional Economic Integration

LEARNING OBJECTIVES

After going through this chapter, you should be able to:

  • Define different forms of economic integration and their effects on international business
  • examine the costs and benefits of integration
  • explore different regional trading groups and their impact on the world and regional economy
  • Explain the rationale for international commodity agreements

Travails of a Common Currency

Although the International Monetary Fund (IMF) and European Union (EU) have acted as co-rescuers of Ireland and Greece in the aftermath of the 2008 financial crisis, the Germans see themselves as the chief rescuers—a fact deeply resented by them. The Germans were always reluctant to adopt the euro and give up ...

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