Assignment 6.1: Dialogue 6 — the Future of Trade Block Monetary Unions
Submitted by: Submitted by realmckoy33
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Category: Business and Industry
Date Submitted: 02/14/2016 07:25 AM
a. Do you expect further enlargement of NAFTA, ASEAN, and the EU? Why?
The North American Free Trade Agreement (NAFTA), European Union (EU) and the Association of Southeast Asian Nations (ASEAN) can and will definitely expand. As other countries move forward to become more economically stable, they will seek to be a part of such type’s organizations if not offered in order to better their country’s economy. Becoming a part of a larger organization allows growth in economy and wealth for member countries and therefore is a goal for any country that is looking to become a better place to live. Of the over 200 States in the world 28 are in the EU, three in NAFTA and 10 in ASEAN, that totals 41 countries; as economies continue to grow, stronger and larger alliances will be necessary to compete for economic superiority.
Each region has many other countries that are not a part of the respective organizations. For ease of trading and minimization of man power required for temporary permits to cross border trade, NAFTA chapter 16 rule for example, allows business travelers within the region. The traveler must either be a business visitors, traders and investors, intra-company transferees, and professionals in order to fit the criteria. The EU has the largest amount of member states of the three organizations, yet there are other states that are still not a part of it. ASEAN also still has neighboring countries that are nonmembers. As the world evolves into a larger economic pool, neighboring countries will be tempted to partake of the many benefits involved.
b. b. How would you estimate the future economic and political relationship between China and ASEAN? Would you predict China becoming a member of ASEAN? Explain your responses.
I believe the relationship will improve amongst the two because both China and ASEAN knows they have a very strong economy, strong enough to lead the Economical race throughout the world. With that said, this is clearly beneficial to...
