國際商務(wù)PPT第九章

1、International Business 9e By Charles W.L. HillMcGraw-Hill/Irwin Copyright 2013 by The McGraw-Hill Companies, Inc. All rights reserved.Chapter 9Regional Economic Integration9-3What Is Regional Economic Integration?Regional economic integration - agreements between countries in a geographic region to

2、reduce tariff and non-tariff barriers to the free flow of goods, services, and factors of production between each otherQuestion: Do regional trade agreements promote free trade?In theory, yes, but the world may be moving toward a situation in which a number of regional trade blocks compete against e

3、ach other 9-4What Are The Levels Of Regional Economic Integration?1. A free trade area eliminates all barriers to the trade of goods and services among member countries European Free Trade Association (EFTA) - Norway, Iceland, Liechtenstein, and Switzerland North American Free Trade Agreement (NAFTA

4、) - U.S., Canada, and Mexico 9-5What Are The Levels Of Regional Economic Integration?2. A customs union eliminates trade barriers between member countries and adopts a common external trade policy Andean Community (Bolivia, Columbia, Ecuador, and Peru) 3. A common market has no barriers to trade bet

5、ween member countries, a common external trade policy, and the free movement of the factors of production MERCOSUR (Brazil, Argentina, Paraguay, and Uruguay)9-6What Are The Levels Of Regional Economic Integration?4.An economic union has the free flow of products and factors of production between mem

6、bers, a common external trade policy, a common currency, a harmonized tax rate, and a common monetary and fiscal policyEuropean Union (EU)5.A political union involves a central political apparatus that coordinates the economic, social, and foreign policy of member states the EU is headed toward at l

7、east partial political union, and the U.S. is an example of even closer political union9-7What Are The Levels Of Regional Economic Integration?Levels of Economic Integration9-8Why Should Countries Integrate Their Economies?All countries gain from free trade and investment regional economic integrati

8、on is an attempt to exploit the gains from free trade and investmentLinking countries together, making them more dependent on each othercreates incentives for political cooperation and reduces the likelihood of violent conflictgives countries greater political clout when dealing with other nations9-

9、9What Limits Efforts At Integration?Economic integration can be difficult because while a nation as a whole may benefit from a regional free trade agreement, certain groups may loseit implies a loss of national sovereigntyRegional economic integration is only beneficial if the amount of trade it cre

10、ates exceeds the amount it divertstrade creation occurs when low cost producers within the free trade area replace high cost domestic producerstrade diversion occurs when higher cost suppliers within the free trade area replace lower cost external suppliers9-10What Is The Status Of Regional Economic

11、 Integration In Europe? Europe has two trade blocs 1. The European Union (EU) with 27 members2. The European Free Trade Area (EFTA) with 4 members The EU is seen as the worlds next economic and political superpower9-11What Is The Status Of Regional Economic Integration In Europe?Member States of The

12、 European Union in 20119-12What Is The European Union?The devastation of two world wars on Western Europe prompted the formation of the EUMembers wanted lasting peace and to hold their own on the worlds political and economic stage Forerunner was the European Coal and Steel Community (1951)The Europ

13、ean Economic Community (1957) was formed at the Treaty of Rome with the goal of becoming a common market 9-13What Is The European Union?The Single European Act (1987)committed the EC countries to work toward establishment of a single market by December 31, 1992was born out of frustration among EC me

14、mbers that the community was not living up to its promise provided the impetus for the restructuring of substantial sections of European industry allowing for faster economic growth than would otherwise have been the case9-14What Is The Political Structure Of The European Union? The main institution

15、s in the EU include: 1. The European Council - the ultimate controlling authority within the EU2. The European Commission - responsible for proposing EU legislation, implementing it, and monitoring compliance with EU laws by member states 3. The European Parliament - debates legislation proposed by

16、the commission and forwarded to it by the council4. The Court of Justice - the supreme appeals court for EU law9-15What Is The Euro?The Maastricht Treaty committed the EU to adopt a single currencycreated the second largest currency zone in the world after that of the U.S. dollar used by 17 of the 2

17、7 member statesBritain, Denmark and Sweden opted outsince its establishment January 1, 1999, the euro has had a volatile trading history with the U.S. dollar9-16Is The Euro A Good Thing?Benefits of the eurosavings from having to handle one currency, rather than manyit is easier to compare prices acr

18、oss Europe, so firms are forced to be more competitivegives a strong boost to the development of highly liquid pan-European capital marketincreases the range of investment options open both to individuals and institutionsCosts of the euroloss of control over national monetary policyEU is not an opti

19、mal currency area9-17Should The EU Continue To Expand?Many countries have applied for EU membershipTen countries joined in 2004 expanding the EU to 25 statesIn 2007, Bulgaria and Romania joined bringing membership to 27 countries Turkey has been denied full membership because of concerns over human

20、rights9-18What Is The Status Of Economic Integration In The Americas?There is a move toward greater regional economic integration in the AmericasThe biggest effort is the North American Free Trade Area (NAFTA)Other efforts include the Andean Community and MERCOSURA hemisphere-wide Free Trade of the

21、Americas is under discussion 9-19What Is The Status Of Economic Integration In The Americas?Economic Integration in the Americas9-20What Is The North American Free Trade Agreement? The North American Free Trade Area includes the United States, Canada, and Mexicoabolished tariffs on 99% of the goods

22、traded between membersremoved barriers on the cross-border flow of servicesprotects intellectual property rightsremoves most restrictions on FDI between membersallows each country to apply its own environmental standardsestablishes two commissions to impose fines and remove trade privileges when env

23、ironmental standards or legislation involving health and safety, minimum wages, or child labor are ignored9-21Is The North American Free Trade Area Beneficial?Supporters of NAFTA claimed thatMexico would benefit from increased jobs as low cost production moves south and will see more rapid economic

24、growth as a resultthe U.S. and Canada would benefit from access to a large and increasingly prosperous marketthe lower prices for consumers from goods produced in Mexicolow cost labor and the ability to be more competitive on world marketsincreased imports by Mexico9-22Is The North American Free Tra

25、de Area Beneficial?Critics of NAFTA claimed that jobs would be lost and wage levels would decline in the U.S. and Canadapollution would increase due to Mexicos more lax standardsMexico would lose its sovereignty9-23Who Was Right?Research indicates that NAFTAs early impact was subtle, and both advoca

26、tes and detractors may have been guilty of exaggerationNAFTA is credited with helping create increased political stability in MexicoOther Latin American countries would like to join NAFTA 9-24What Is The Andean Community?The Andean Pact formed in 1969 using the EU modelhad more or less failed by the

27、 mid-1980swas re-launched in 1990, and now operates as a customs union renamed the Andean Community in 1997signed an agreement in 2003 with MERCOSUR to restart negotiations towards the creation of a free trade area9-25What Is MERCOSUR?MERCOSURoriginated in 1988 as a free trade pact between Brazil an

28、d Argentinawas expanded in 1990 to include Paraguay and Uruguay and in 2005 with the addition of Venezuelamay be diverting trade rather than creating trade, and local firms are investing in industries that are not competitive on a worldwide basisinitially made progress on reducing trade barriers bet

29、ween member states, but more recently efforts have stalled 9-26What Is The Central American Trade Agreement And CARICOM?There are two other trade pacts in the Americasthe Central American Trade Agreement (CAFTA, 2005) - to lower trade barriers between the U.S. and members CARICOM (1973) - to establi

30、sh a customs unionNeither pact has achieved its goals yetIn 2006, six CARICOM members formed the Caribbean Single Market and Economy (CSME) - to lower trade barriers and harmonize macro-economic and monetary policy between members 9-27What Is Free Trade Of The Americas? Talks began in April 1998 to

31、establish a Free Trade of The Americas (FTAA) by 2005 The FTAA was not established and now support from the U.S. and Brazil is mixedthe U.S. wants stricter enforcement if intellectual property rightsBrazil and Argentina want the U.S. to eliminate agricultural subsidies and tariffs If the FTAA is est

32、ablished, it will have major implications for cross-border trade and investment flows within the hemispherewould create a free trade area of 850 million people who accounted for nearly $18 trillion in GDP in 2008 9-28What Is The Status Of Economic Integration In Asia?Various efforts at integration h

33、ave been attempted in Asia, but most exist in name onlyAssociation of Southeast Asian Nations (ASEAN)Asia-Pacific Economic Cooperation (APEC)9-29What Is The Association Of Southeast Asian Nations?The Association of Southeast Asian Nations (ASEAN, 1967)currently includes Brunei, Indonesia, Malaysia,

34、the Philippines, Singapore, Thailand, Vietnam, Myanmar, Laos, and Cambodiawants to foster freer trade between member countries and to achieve some cooperation in their industrial policiesAn ASEAN Free Trade Area (AFTA) between the six original members of ASEAN came into effect in 2003ASEAN and AFTA are moving towards establishing a free trade zone9-30What Is The Associat